After installation of IIS 7 as discussed in my last blog , if you get an error 500.19 or 500.21 while running localhost follow the steps mentioned below.
For Error 500.19 (Do not have sufficient permission): This simply means you have not started your Visual Studio through administrator. To use IIS web server you have to launch Visual Studio as an administrator.
For Error 500.21 : IIS managed handler can not be configured in classic mode. Therefore, you should run application pool managed pipeline handler of IIS in integrated mode.
This can be done in two ways :I.