Congrats on your 700+ score.You have successfully taken care of one part of the application package.
Your question: Please help me on how to start and what things I should take care of before I start applying.
Yes, it's time for you to begin shortlisting schools that you want to apply to. The selection of schools will depend on what your priorities and goals are and which schools would match your needs/ interests. For this, you will need to research the schools .
As you are aware,an applicant's candidacy is determined by a variety of components : GMAT score, GPA, work experience, non-work activities,resume, recommendation letters, and essays. So begin approaching your recommenders early on so they get time to work on your recos.
After finalizing your schools, begin working on your essays. Essays play a critical role in showcasing your candidacy. B-Schools require candidates to write essays on different topics because they want to assess them for their professional (work ethic , team working and leadership skills, problem solving skills etc. )and personal attributes (honesty, integrity, self discipline,ability to work in different cultural environments etc.)So you need to do some reflection to understand which qualities define you and how you can substantiate them through real life-examples. Begin documenting your accomplishments at work.(You haven't written any thing about your work experience, extra curricular/ community experience.)
So you have a lot of things to take care of , Ankita.
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Best of luck,
Poonam