Does Unity3d 4 .net framework 4 -4.5

What is the default Monodevelop .net framework coming with Unity3d 4. will it support .net framework 4? will it support external dll library that are compiled in .NET Framework 4

Unity runs on Mono 2.6 which is roughly equivalent to .net3.5 (.i.e lambdas, Linq and type inference are supported). support for external libraries compiled in 4/4.5 is not guaranteed. You probably want to compile to target 3.5/3.0. for best results compile your code using the Mono compilier

The version of Mono used in Unity 4.0 hasn’t changed from Unity 3 at all (it’s Mono 2.6). MonoDevelop and Mono are two different things, by the way. MonoDevelop is a code editor/IDE. Mono is an open-source .NET clone that’s used by Unity.