after fresh installation on new system, i try to open VS Solution file in VS 2012 but it displays Incompatible message for SharePoint Projects so after little bit RnD i had installed Visual Studio Tools for Developer then it shows Need Migration message as shown below
so solution is very simple, After some research, I found the solution over at stackoverflow: Replace the ProjectTypeGuids in the csproj file to:
{349c5851-65df-11da-9384-00065b846f21};{fae04ec0-301f-11d3-bf4b-00c04f79efbc}