Configure SSIS Build in TeamCity

I am trying to setup a SSIS build using MSBuild agent on Teamcity 7.x. Created a simple data flow task in a SSIS project to copy data from xls to csv.
I have setup a buildagent with -

Build File Path: depot/

MSBuild Version: .Net 4.0

However, I get the following error, and need help.

[09:17:23]depot\\Tools\VikTestSSIS.dtproj.teamcity: Build target: D:\LDNDSM020007936_TCAgent\temp\buildTmp

[09:17:23][depot\\Tools\VikTestSSIS.dtproj.teamcity] D:\LDNDSM020007936_TCAgent\work\a249a3015f83245\depot\\Tools\VikTestSSIS.dtproj(3, 3): error MSB4067: The element <ProductVersion> beneath element <Project> is unrecognized.

[09:17:23][depot\\Tools\VikTestSSIS.dtproj.teamcity] Project depot\\Tools\VikTestSSIS.dtproj.teamcity failed.

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