When you have installed Visual studio update 4 you still see there is no template for MVC 5. For now you need to install ASP.NET and Web Tools 2013.1 Read this post for more information http://blogs.msdn.com/b/webdev/archive/2013/11/18/announcing-release-of-asp-net-and-web-tools-2013-1-for-visual-studio-2012.aspx
You can install it through WPI. the windows after installation look like this.
Now visual studio 2012 (in my case express) will show you template for MVC 5.
Thanks for read my post