When you create a new MVC 4 project in Visual Studio 2012, you will be presented with different option as shown in the below picture, Each project template sets up different folders in your application. This post explains the each project template purpose
The new Empty Template has got assemblies, web.config and basic folder structure. No default page, you have to add everything that you want to the solution and structure of the solution explorer looks as below.
This template has the basic folders, CSS and basic MVC application structure. The difference between Empty and basic template is you only find content and scripts folders in basic template. This template is for experienced developers who can setup everything them self
Internet Application Template
This template contains all folders that you can start the application immediately after creating it. This template includes account management functions which runs against ASP.NET membership system.
Intranet Application Template
This template was introduced in MVC3 and it looks exactly like Internet Application Template except the account management functions runs against Windows accounts.
Mobile Application Template
This template was targetted for creating a mobile ready website. This template preconfigured with JQuery mobile. It includes mobile themes and support for Ajax.
Web API Template
This template is for creating the HTTP services. It is similar to the Internet Application template but without account management functions. This Web API functionality is also available for other MVC project templates and non-MVC project types.
Single Page Application Template
Facebook Application Template
This template was shipped with Web Tools 2012.12 update.ASP.NET Facebook template which actually uses the open source Facebook C# SDK, which helps the developers to build the Facebook Canvas applications.