GTA V will run great on old consoles, Devolpers says

Now we are happy to see this that R* is going to launch GTA V on old consoles Xbox 360 and PlayStation 3, First we were thinking that it will be most upgraded game so it's must be on next gen consoles. But now we don't have to worry to bring next gen console to our homes to play GTA V.

Developers saying that GTA V does not encounter any technical limitations.
to it's detail, it's clear that this game will be perfect for old consoles, and these old consoles having no hardware problem to pick up this game.

GTA V going to hit the shops just after the releasing of next gen consoles. Possibly during Spring 2013.
  releasing on Xbox, PlayStation and but for PC by Microsoft not officially announced.

This news giving us a great benefit that we don't need to buy expensive new consoles.