T4 stands for Text Template Transformation Toolkit
Path for T4 template
C:\Program Files\Microsoft Visual Studio 10.0\Common7\IDE\ItemTemplates\CSharp\Web\MVC 4\CodeTemplates
If you want to customize T4 templates, only for a specific project, then copy "CodeTemplates" folder and paste it in the root directory of your MVC project.
Right click on the template files(with .tt extension), and select Properties and delete "TextTemplatingFileGenerator". By deleting this from CustomTool property, we are telling visual studio not to run them during the build.
They will be manually called when we add a view or a controller using "Add View" and "Add Controller" dialog box.