This paper presents an in-depth theoretical study of bio-vision inspired feature extraction and depth perception method integrated with vision-based simultaneous localization and mapping (SLAM). We incorporate the key functions of developed visual cortex in several advanced species, including humans, for depth perception and pattern recognition. Our navigation strategy assumes GPS-denied manmade environment consisting of orthogonal walls, corridors and doors. By exploiting the architectural features of the indoors, we introduce a method for gathering useful landmarks from a monocular camera for SLAM use, with absolute range information without using active ranging sensors. Experimental results show that the system is only limited by the capabilities of the camera and the availability of good corners. The proposed methods are experimentally validated by our self-contained MAV inside a conventional building.