The performance-based assessment procedure is utilized in order to study the seismic performance of mid-rise RC frame and frame-shear wall buildings designed for Indian codes. Three 15-storied buildings consisting of frame, frame-shear wall and frame-shear wall core are designed for the same base shear coefficient based on the empirically obtained period of the building as recommended in IS 1893. The RC frame buildings are modeled using the gross section properties, as well as cracked section properties as per ASCE41 guidelines. In the frame-shear wall and frame-shear wall core buildings, the RC members are modelled using cracked section properties, whereas the shear-wall and shear-wall core are modelled using nonlinear finite elements. It is observed that the buildings designed for the force criterion alone show ‘Immediate Occupancy’ and ‘Collapse Prevention’ performance for DBE and MCE levels of hazard, respectively. This performance improves significantly in case of the buildings designed for force as well as drift criterion of IS 1893, which demonstrate ‘Immediate Occupancy’ performance for DBE level of hazard and ‘Life Safety’ performance for MCE level of hazard.