Error while loading .net project in Visual Studio 2015

It was working fine till I last shut down my PC. All of a sudden, the following error started to come, when I'm opening any .net project

error : The project file could not be loaded. Root element is missing. C:\Program Files (x86)\MSBuild\Microsoft\VisualStudio\v14.0\Web\Microsoft.Web.Publishing.targets

Even when I'm trying to create a new MVC application, its not getting generated, and the following error is showing -

exception from hresult 0x80131500

I have also cleared the temp folder, but in vain.