A vision based approach for calculating accurate 3D models of the objects is presented. The strength of the work lies on multi-resolution based matching algorithm. The depth and dimensional accuracy of the produced 3D depth model lies on the existing reference model instead of the information such as laser signatures or different light pattern projections from extra hardware tools. It is a software based approach of finding accurate depth with minimal hardware involvement. The matching process uses the well-known coarse to fine strategy, involving the calculation of matching points at the coarsest level with consequent refinement up to the finest level. Vector coefficients of the wavelet transform-modulus are used as matching features, where modulus maxima defines the shift invariant high-level features (edges) with phase pointing to the normal of the feature surface. The technique addresses the estimation of optimal corresponding points and the corresponding 2D disparity maps leading to the creation of accurate depth perception model.