For those who love flowering bulbs and want them to produce blooms in every spring, following guideline serves as basics for the storing of the same. It should be noted that Bulbs are living organisms yes they do breath and feel warm/cold ; treat them as your fellows as they keep in them bundles of wonders in the form of flowers for next season.
1. Bulbs should be removed when the last foilage dies out by end of MAY normally.
2. Keep the bulbs in a ventilated dry area so the dampness could be dried out before storing them. (note: light and humidity are bad for the bulbs in storage).
I'll add to adnan sb's post, dust the bulbs with fungicide powder to avoid fungal growth...If you cant find fungicide powder use limestone dust (Choona powder) to dust the bulbs..this will also serve the purpose.