This information is based on information available on :
www.ICANN.org (The governing Body for Domain Names), and
The sites of the various Registries (the bodies responsible for specific domain name extensions)
Domain Names can be registered / renewed for periods between 1 and 10 years. Some registries may require a minimum registration / renewal of 2 years.
If you intend to use the domain name for any purpose such as email / web hosting, etc., it is important to renew the domain name.
If the domain name is registered through us, the email address used for the registration starts receiving renewal emails from our systems 60 days before expiry of the domain. Before the expiry of the domain name, at least 3 emails are sent by our systems. Another reminder is sent 1 day after expiry of the domain.
If you do not renew you domain before expiry:
1. The Registrar suspends the domain 1 day after expiry, and changes the name servers. You start seeing a parked page.
2. The domain goes into a grace period within which the domain can be renewed at normal prices. The duration of the grace period depends on the Domain extension (.com /.net /.org / .in / .co.in etc.).
3. After the expiry of the grace period, the domain goes into a redemption period, during which you can reclaim the domain at a higher cost. The redemption period is not available for all extensions.
4. At the end of the redemption period, the registry may put up the domain name for an auction. If the domain name is purchased in an auction, it will not be deleted.
5. The domain name is deleted. Once deleted, anyone can register the domain name.