For this part if you are serious abt apping in fall 09, u must give ur Gmat b4 july end/aug 2nd week since B schools apps already start by then. Toefl is no deal but finish it soon after ur Gmat..
I guess u must b knowing abt R1,R2,R3 (rounds) of apps..its always better to go for R1 if u r aiming for good schools and for fall..
So as u see that you have nearly 3 months time to write in July..thats a good time for prep..
And also check if the exam slots are available in July..One of my fren was very concerned abt this..
Good Luck
Thanks a lot neo for ur suggestion. i was not aware of that. can u suggest the timeframe around when i shud complete my toefl. also if i have to apply for R1, how should i go about it.
thanks and regards
radhika