In Visual studio, Solution->Web.Project->Properties->Web, I have changed my Project Url from http://localhost:51123/
to http://localhost:51123/NewProj
I had a problem of same type. Running my site published on IIS, the same error was shown.
I saw a web.config
file in the wwwroot
folder (out of application folder).
I removed this file and the application ran OK.
Look for a web.config
file placed in a wrong folder (above your folder application).
Good luck!