This issue has been haunting me for two days and I was unable to figure out the root cause and how to get it resolved.
After searching on different blogs for a good enough time it became frustrating because I was unable to deploy my solution and there was a demo.
For me it happened because I had refreshed the cache.ini file present at %ALLUSERSPROFILE%\Microsoft\SharePoint\Config\ path in your SharePoint farm.
I had reset the cache.ini file by changing its content to 1 but unfortunately my cache didn't get reset properly. After restarting the server, SPTimerService and all repeatedly following several blogs it didn't resolve my issue.
The fix was I had to create a folder in the same directory where I had cache.ini with the same name as the id of content database. Doing just that created several xml files in the folder and I got everything working once again.
You can find the config DB key from the following place in your registry:
Run - regedit
Expand the following key
HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Shared Tools\Web Server Extensions\15.0\Secure\ConfigDB
and copy id.
Go back to the config folder and create a new folder with the same name as id and that's all!
You will see the magic and now you can resume with your work.