Go for CPT only if you currenlty qualify for H1 so that you can apply as soon as it opens. Otherwise, I would suggest not to .

Paani_ma_paade_jasto I am non IT major but my project is totally IT based and applying through undergrad quota, i am not sure but my consultancy is ready to apply in coming april. Even if i get selected do they object about cpt from first semester.?

If you need job/money then I see no harm in extending your work through CPT. The choice of university depends on your location n I have little idea about it. Since you have not done Masters, joining for masters and gaining good knowledge with good grades can be useful in long term. Besides, joining an University just for CPT can prove to be more expensive and hectic as you have to attend the class every biweekly(possibly). Moreover, there is some margin of doubt of you getting H1b coming april since you are from non-IT background with no Masters. What if you didn't get H1b?
-Coming from NOt an expert

There are many colleges that can approve your CPT starting from the 1st semester in graduate level. What's the location you are interested in?