Server Application Unavailable in IIS for ASP.NET application

Problem :
Server Application Unavailable
The web application you are attempting to access on this web server is currently unavailable. Please hit the "Refresh" button in your web browser to retry your request.
Administrator Note: An error message detailing the cause of this specific request failure can be found in the application event log of the web server. Please review this log entry to discover what caused this error to occur.

Solution 1:
Open the command promt and direct to the folder C:\WINDOWS\Microsoft.NET\Framework\v2.0.50727
and run the command to install ASP.NET in your IIS
aspnet_regiis.exe -i

Solution 2:
To work around this problem, verify that the ASPNET account has the correct user rights as follows:
a) %windir%\Microsoft.NET\Framework\Version\Temporary ASP.NET Files: Full Control
%windir%\Temp: Full Control
b) Application folder: Read
c) %installroot% hierarchy (for example, %windir%\Microsoft.Net\Framework\Version): Read
d) %windir%\Assembly: Read
e) Web site root (for example, %root%\Inetpub\Wwwroot) or the path that the default Web site points to: Read
f) %windir%\System32: Read(Typically, the ASPNET account has already been granted user rights as a member of the Users group.)
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---------------------------Microsoft Visual Studio---------------------------
Unable to start debugging on the web server. The web server could not find the requested resource.
Click Help for more information.
---------------------------OK Help ---------------------------
Solution worked for me. Close all the applications and reset IIS in command promt 'iisreset'

problem solved :) cheers