Hey Jaspreet, I would suggest going for a trek ( even one day ) and celebrate the new year in the camps at snow mountains under the sky full of stars. There are multiple options showing on Google if you are interested in Music and Booze party. Happy travelling!!!!
Hi Jaspreet
You will find lots of people and an excellent environment setup for new year at mall road, so after having day out, come back at mall road, you'll enjoy a lot.