I have Windows 8 installed on my machine, and the aspnet_regiis.exe tool did not worked for me either.
The solution that worked for me is posted on this link, on the answer by Neha: System.ServiceModel.Activation.HttpModule error
Everywhere the problem to this solution was mentioned as re-registering aspNet by using aspnet_regiis.exe. But this did not work for me.
Though this is a valid solution (as explained beautifully here)
but it did not work with Windows 8.
For Windows 8 you need to Windows features and enable everything under ".Net Framework 3.5" and ".Net Framework 4.5 Advanced Services".
Thanks Neha