Game developers Rockstar North is all set to bring out its latest project, the highly anticipated Grand Theft 5 (GTA 5) which will be the first major title in the GTA series since the release of GTA 4 in 2008.

GTA 5 will be the fifth installment in the series and will be set in fictional city of Los Santos in the state of San Andreas and its surrounding areas. The game is mostly based on the modern-day Los Angeles and Southern California.

Previously, numerous speculations around the web specified that the Grand Theft Auto 5 was to be released by the end of 2011. However, that did not happen. Later, on October 25, 2011, Rockstar Games announced the Grand Theft Auto 5 via a tweet (the tweet included the #GTAV hash tag and a link to the game's homepage, and displayed the game's logo).

The next day, that is on October 26, when the company put a GTA V trailer countdown on their homepage, the shares of Take-Two Interactive, the parent company of Rockstar Games, shot up by seven percent.

Looking ahead, Take-Two has the strongest development pipeline in the company's history. At the cornerstone of our stellar line-up is the recently announced next installment of Rockstar Games' iconic franchise that has sold-in more than 114 million units - Grand Theft Auto V, Take-Two CEO Strauss Zelnick stated.

The creative team at Rockstar Games continues to set benchmarks for excellence with every new release and we're confident that consumers' enthusiasm will be rewarded with a breathtaking entertainment experience that can only be provided by Grand Theft Auto.

Finally on November 2, 2011, Rockstar released the debut trailer for GTA 5, and gave its fans the first glance of the upcoming and most-anticipated game. The trailer revealed features like the Los Santos setting, a glimpse of Vinewood (Hollywood) and its rural hills and other areas.

The GTA 5 Official Trailer: The game's trailer revealed a lot about the upcoming game. We already know that the gameplay of Grand Theft Auto 5 is going to be based in Los Santos, a fictional city of Los Angeles and Southern California, and the trailer opens with several scenes of the San Andreas beaches with palm trees, and a shot of the Vinewood sign.

It is said that Grand Theft Auto 5 may be set in the present day scenario depicting the current recession situation as the trailer shows shots of houses on sale, people begging for money on the street, and even people sleeping in tents next to an underpass. Earlier, there have also been rumors indicating that GTA 5 would support multiple playable characters and will be played across three central characters.

However, it has been assumed that the man looking out across the city about halfway through the trailer is one of the main characters. Stuff like flying aircrafts, fitness magazines, Jet Ski rentals and body piercing shops are expected to be featured in the game as well.

GTA 5 Requirements: It is assumed that the game will require around 20 GB of space depending on the audio/radio, textures, maps, and so on. The game may also require slightly higher system requirements although it would not differ much compared to GTA 4. Below are the system requirements for PC gamers.

Predicted System Requirements:

Operating System: Windows XP, Vista or Windows 7 CPU: Intel Core 2 Duo 3 GHz or similar RAM: 3 GB HDD: 20 GB free disk space Graphics: 512 MB Graphics Memory Sound Card: DirectX 9 Compatible DirectX: Version 9 Supported Graphics Cards: Nvidia 8600 or ATI 3870

Minimum System Requirements:

Processor: Intel Core 2 Duo 3.66Ghz or equivalent AMD Athlon X2 64 4.8Ghz Memory/RAM: 2 GB Ram Video Card: 512MB NVIDIA 7900 or 512MB ATI X1900 Hard Disk Space: 30 - 40 GB Operating System: Windows XP SP3 or Windows Vista SP1 or Windows 7 SP1

Recommended System Requirements:

Processor: Intel Core 2 Quad 3.66GHz or equivalent AMD Phenom X3 4.81GHz Memory/RAM: 4 GB Video Card: 1GB NVIDIA 8600 or 1 GB ATI 3870 Hard Disk Space: 30 - 40 GB free Operating System: Window XP SP3 or Vista SP2 or Window 7 SP1

However, the official system requirements are yet to be released by Rockstar. The game will also be available on PlayStation 3 and Xbox 360.

Release Date: If the trailer is viewed carefully, the release date for the game can be assumed, and it assumed that that GTA 5 will arrive in May this year. If you watch the trailer carefully at 0.55, you will see a man posting a For Sale sign and the number 2405 printed on the pane. The number 2405 could be interpreted as May 24, which could be the game's release date. This is, however, just a guess by the techlabs.com, and the official dates are yet to be announced.

(Information from thetechlabs.com)