The following code gave me this final output:


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\documentclass{book}
\usepackage{color}
\usepackage{fancyhdr}
\renewcommand{\footrulewidth}{0.4pt}
\pagestyle{fancy}
\lhead{}
\chead{TITLE OF THESIS}
\rhead{}
\lfoot{}
\cfoot{}
\rfoot{\thepage}
\newcommand{\mychapter}[1]{\newpage%
\topskip0pt%
\vspace*{\fill}%
\addtocounter{chapter}{1}%
\begin{center}%
\textbf{\Large{\color{red}{CHAPTER NO. \thechapter \\ \uppercase{#1}}}}%
\end{center}%
\vspace*{\fill}%
\newpage%
\textbf{\Large{\thechapter. #1}}%
\addcontentsline{toc}{chapter}{#1}%
}
\begin{document}
\mychapter{Title of the first chapter}
\end{document}
Note: You can modify the sizefont or style to your will by modifying the adequate lines in the definition of the new command.
EDIT: The following has been added in order to fix some numbering problems occurring with the previous code. The disadvantage is that you need to load the oneside option of the book class in order to avoid to have the red chapter name on an odd page and the "regular" black chapter name on the following odd page (with the even page in between white). To finish the job you just need to check your headers and maybe redefine them using the tips in the documentation.
\documentclass[oneside]{book}
\usepackage{color}
\usepackage{fancyhdr}
\renewcommand{\footrulewidth}{0.4pt}
\pagestyle{fancy}
\usepackage{titlesec}
\titleformat{\chapter}[hang]{\Huge\bfseries}{\thechapter.\hspace{15pt}}{0pt}{\Huge\bfseries}
\newcommand{\mychapter}[1]{\newpage%
\topskip0pt%
\vspace*{\fill}%
\addtocounter{chapter}{1}%
\begin{center}%
\textbf{\Large{\color{red}{CHAPTER NO. \thechapter \\ \uppercase{#1}}}}%
\end{center}%
\vspace*{\fill}%
\addtocounter{chapter}{-1}
\newpage%
\chapter{#1}
}
\begin{document}
\mychapter{Title of the first chapter}
\end{document}