ASP.NET MVC 4 for Visual Studio 2010 Installation Errors- incompatible with .NET 4.5 or earlier, upgrade to .NET Framework 4.5 latest version

Introduction 

When you install ASP.NET MVC 4 for Visual Studio 2010, If you are already using 4.5 framework in your box then you might get some strange errors. 

Background  

In my case my box was already having .NET Framework 4.5 RC and I wanted to install ASP.NET MVC 4 for Visual Studio 2010. 

I tried using the standalone installer for ASP.NET MVC 4 for Visual Studio 2010 but it throws me below error

Ohh ...Very Strange, error says that Visual Studio 2010 needs .NET Framework 4.5!. I thought it might be some problem with the standalone setup, so I though to use Web Platform Installer,

and it also given some similar error, see the screen-shot below.  

Solution 

To resolve this issue I removed the .NET Framework  4.5 RC from local box.

Wait...there is one more thing you need to do. 

Uninstalling the .NET Framework 4.5 also removes pre-existing .NET Framework 4 files. If you want to go back to the .NET Framework 4, you must reinstall it and any updates to it. 

If you are not installing .NET Framework 4.0 after uninstallation of Framework 4.5 then you will get another error saying something like 'Framework 4.0 not found". 

Please let me know if you found any other solution for this issue 

You might be interested to check Visual Studio 2010- Unknown Error after uninstallation of Framework 4.5.