VS2012 IDE Issue No exports were found that match the constraint contract name

Today I tried to add new project in VS2012 IDE for development it didn't allow me to proceed as it popup an error stating this
VS2012 IDE Issue No exports were found that match the constraint contract name

I got the workaround in Stackoverflow-
http://stackoverflow.com/questions/17596543/no-exports-were-found-that-match-the-constraint-contract-name

Step 1: Close VS2012
Step 2:
Just delete or rename this folder:

%AppData%\..\Local\Microsoft\VisualStudio\11.0\ComponentModelCache

Step 3:
Restart VS2012


The probable reason would be VS2012 had not been closed for longer period of time therefore resulting in above error.