if it was niche wise example: techblogger.in etc then it could have been valuable, else you're just wasting your money! $16X2 for registration!
as resell price i would say be hardly reg-fees! to other resellers and if you're lucky and manage to find buyers, it would go as high as $40 or so! coz this niche involves developing the social networking community of microbloggers which is a tough task, thus it will be hard to resell this domain to the end-user and second thing is that if anybody makes a microblogging site then why would they use microblogging.in when they could use 4 to 6 letter brandable names like orkut, twitter, plurk, pounce etc! try to get my point! and realize your mistake! this is just a friendly advice i can give you! its upto you to listen to me or do what you feel like!
one more precaution tip i would give you is to research the niche for which you're buying the domain and see how easy it is to resell, if its seems doubtful to be able to resell then dont waste your money in buying those domains!
lastly if you run out of ideas, you could always pm me for help as i have mined list of good domains for every niche in .com .in and many more tlds!
regards,
Abhishek
