Which one is more important for you? For your help, I think is better to not let others live your life. If you don't, follow your heart. Good luck.
PS: For your information, I work in Romania as a Senior Java Developer. I have 12 years experience, and all my leads are less experienced than me. For me it has no importance at all, if all of us know who we are and respect each other. This is MUCH important for me than a function/role/whatever. But this is me. Find yourself who you are and live.
Where does job satisfaction rate in comparison to salary and title? Do you think it would be the same in both jobs?
Also keep in mind that titles mean very little in IT. In some companies an architect may be higher than a tech load, in other places it may at the same level (or even below). Some companies may not have a person with that particular title at all.
In India your designation will not reflect exactly about your role & responsibilities. If you mean Tech Lead is your designation I will suggest you that do not think much about it. And I feel the new company may not be having similar designation as Architect so, they gave you Tech Lead. I feel you may need to play as Architect in new company even though your designation says Tech lead as you already experienced in it and no company may not wish to mis use your skills\capacity. But for more clarity on your responsibilities, I will suggest you to talk with HR to understand organization hierarchy or preferably talk with the manager of project with whom you are going to work to understand your responsibilities.
I consulted some of my friends to a take good decision. Some friends says salary is important and some friends says role is important (as higher role gets more salary in India than lower role).
You will get similar opinions everywhere. If you see above, you got similar opinions. Because if I have short term goal and money is my immediate focus, I will give you advice to accept offer. If I have long term goal and money is not my immediate focus ( everyone needs money but I am talking about long term ), and role is more important to me so I can build on that, then I will say better be in role of architect than of tech lead. Of course every company has different definition of designation and role. You might have seen job titles as an Architect for 5 years experience also. For few companies an Architect has to have at least 9-10 years of experience out of which 2-3 years in similar role. So it depends on definition of role/designation with company too.
Since you said you worked hard and company has taken notice of it and promoted you as an Architect from Tech Lead you have to think on it too. You are the best person to decide, you will always get different opinions from different people depending on what their focus is. You should know where your focus is.
40-50% hike is really big and always tempting. It is not a very easy decision to make. You can look at a few other aspects and put some weightage based on how important it is to you. Compare the current role with your new role.
-- Opportunity to grow within the organization
-- Type of projects (mission critical, $5million, high profile, small, etc), technologies/frameworks used
-- Opportunity to learn new things
-- Calibre of the people you will be working with and opportunity learn from them
-- Type and business acumen of the organization (Fortune 50, multi-national)
-- opportunity to acquire domain knowldge, etc
You will be best person to analyse this based on your goals and aspirations. If the difference is negligible, go with your heart.
The same thing will happens to most of IT professionals. It depends on the individual decision. But you have to proove your capabilities (since you are new to that company - work from scratch to get recognization) in your new company.
Take a good decision and all the best for your future.
(SCJP5.0, IBM Rational Solution Designer, IBM Rational Architect, IBM RUP Designer)