Hi I've currently have a blog which receives 200-300 visitors on daily basis from Google and as the title says it is currently hosted on Blogspot. I'm thinking of moving the blog to Self Hosted WordPress. I wanted to know that will moving to Another domain will hurt SERP and Page Rank etc. Thank you.
Yes and yes. You can minimize the damage by using 301 redirects for your homepage and important inner pages... dunno if you can do this with blogspot blogs though.
It has been an open secret that Google favors the blogspot blogs (since it's their product). Given that, these blogs usually get top rankings. So shifting to a new domain will hurt rankings and Page Rank. The way to go is yes, thru 301 redirect, and aggressive marketing and announcement that you've changed domains already. Contact your link partners to link to your wordpress domain. And don't forget to install the All-in-One-SEO Pack plugin by Wordpress. That'll decrease the damage somehow.