Hi Krishna,
If you are looking for something in the Sony Nex 7 price range you could consider the Panasonic Lumix GH2. I have just got one myself as I previously had a fixed lens on my Fuji s6500fd bridge camera and was looking for something with a bigger sensor and the quality of a DSLR but without the size of something like the Nikon D5000/7000 and similar. I love the GH2 as I have 2 lenses that will fit with the camera in a small shoulder bag and are incredibly light but have produced great images so far. I only got it a couple of weeks ago so am still getting used to it but am very impressed and it is one million percent better than my previous camera. I would have considered the Sony Nex 7 too if it had already been released but I got impatient
I didn't really find much competition for the GH2 other than the Panasonic Lumix G3 which is meant to be equally as good. I preferred the larger grip and external controls on the body of the GH2 which is why I went for that model.
I used dpreview site to compare features on my shortlist of cameras so you may find that site useful too.
Good luck with your search for a new camera
Rebecca