Need suggestion on domain extensions/TLDS

I am looking forward to buy some domains with .info extension as they are quite cheap these days(less than 1 $) and then I may sell them or develop them.
As domain name is one of the major factors that decide on how the site is ranked in search engines I want to confirm that will a .info site will be indexed in google and will it be ranked high. i mean will I get good traffic .info TLD's ?

Actually, a domain name is NOT one of the MAJOR factors determining a site's position - links, titles, & content.

TLDs only matter for geo targeting, which can be easily changed through webmaster tools and links, and for conveying trust to a visitor (I personally won't buy anything with a cc tld outside the us, unless it's an international product).

The only benefit you can get from a domain name is if you have a Keyword In Domain - and it's a very small benefit - it will not make a difference for even a slightly competitive niche.

Any tld can rank as high as any other.

you should domain extension depends on the use or purpose of the site: http://www.meaningofnames.biz/domain-extension-meanings.htm its better to use what's fit to it..

Thanks for guiding me. I am going to register a .info TLD and then do a little bit of SEO and see what happens..

Well I should say investing time and money in a .info domain to support your main domain should pay off.

Say you have registered madcow.com as ur primary domain and then get madcow.info you could get some solid back links from the latter. You could also use the .info for link exchange with related sites in a relay pattern. But here are the condition for best results.

Make sure each site sports totally unique content.
It should preferably be hosted on another IP.
There should not be too much interlinking between the two.