This error started showing from yesterday, I remember installing Web development packages and updates windows. Before that if was working fine.
If I reload project same error shows up.
The application which this project type is based on was not found. Please try this link for further information: http://go.microsoft.com/fwlink/?LinkID=299083&projecttype=EFBA0AD7-5A72-4C68-AF49-83D382785DCF
This link redirects https://www.xamarin.com/visual-studio page , which is nothing but xamarin download page.
I tried uninstalling Xamarin packages and reinstalling.
It did not solve the issue.
Now I am doing complete uninstall of MS Visual Studio 2017
Please note that no changes have been made to csproj or solution file.