How to promote a site (after penguin algorithm update) within 3 months & achieve 1st page SERP ranking ?

Why3 months? It could really take more or less.
But you need to work hard for it.
  I would start with building good links from good neighbourhoods and closely monitoring your rankings for your important keywords.

You are right friend, but i suggest you can also update your sites content and keyword density.
Only use keyword calculate total accoding to contnet.
And I hope that your sites is recover and show good result.
Thanks Rehan khan

Thats really a good question and many seo guys are doing mistake while finalizing linking strategy.

Firstly note that, there is no way to predict exact time tenure. It may be less then3 months & more than3 months depending on lots of factors.

For linking strategy, you have to take care of following major factors:

1- You should have outclass on-page seo with proper keyword research as per your market.

2- Focus on links from authority sites. Must have good PR + Alexa.

3- Focus on content links like from article directories, blog posts, forum signature links.

4- Never go for spammy sites or pages having100s of external links

5-  Place only related links with related content.

6- Only use unique content which should add value for the readers.

7- Use combination of anchor texts to make it natural, like naked keywords, brand name, brand + keyword, domain name as anchor text etc.

 

Regards.

Fahim Safdar

Skype: marketer.seo