Hello @kartik,
Do it with CSS3-Transitions. Support is great (all modern browsers, even IE). With Compass and SASS this is quickly done:
#foo {background:red; @include transition(background 1s)}
#foo:hover {background:yellow}
Pure CSS:
#foo {
background:red;
-webkit-transition:background 1s;
-moz-transition:background 1s;
-o-transition:background 1s;
transition:background 1s
}
#foo:hover {background:yellow}
Hope it helps!!
Thank You!!