In this paper, a parametric texture based video coding scheme is proposed for multi-view videos. The proposed scheme exploits the perceptual redundancy of the textured region in a statistical manner which is ignored in the multi-view video coding scheme of H.264/MVC. This statistical nature of texture is independent of the 3D scene structure. The set of most similar texture macroblocks over different frames is termed as a motion thread. In the proposed scheme, each P slice/frame of multi-view video is categorized into non-texture blocks which are encoded by H.264/MVC and texture blocks which are encoded by our novel approach. These texture based motion threads are encoded with the help of Spatio-Temporal Autoregressive (STAR) model. These motion threads covers the temporal and interview movement of macroblocks maintaining consistency while STAR model exploits the temporal and inter-view perceptual redundancy in neighborhood. The proposed scheme achieves average gain as high as 4.9 dB PSNR over H.264/MVC for given multi-view videos. © 2015 IEEE.