suggestions wanted about SBI MAGNUM TAX GAIN

I want to take one ELSS to avoid tax i am chosing SBI MAGNUM TAX GAIN is it good? is it advicable? in that which one is best dividend or growth? I have one more doubt from 1st August sebi has removed entry loads on mfs is it applicable to old ones or it for new ones only. I want to take this fund without any loads can any one tell me what is the exact procedure to be followed ie approaching fund house and all currently i am staying in chennai is there any sbi fund houses on chennnai?