i just learned that one should never let a domain name expire if one is keen on not losing it and keen on not paying hefty price later on.
it turns out after a domain name expires, it normally takes about ~60 days before it gets deleted and is available to public to register. And if one wants to renew the domain between deletion and expired period – one has to shell out “restoration” amount.
my domain account portal states:
“The Registry charges higher fees for Restoring a domain name and hence, Restoration is an expensive process. It is time-consuming too and usually gets completed within 3-5 days. Restoration cost: INR 3864.53″
Now INR 3864.53 is approx 80$ while i bought the domain for just 5$!
Also if the domain has high page rank – from my little research, i learned some bots pick it up as soon as they land in general area and so you become the ex-owner forever.
FYI: i never intended to renew the domain – that’s why i ignored the three Alert mails that i got from my registrar before it expired. And i logged into portal just for the sake of curiosity. but for once, think – what if i did not want to lose it?