SSDT Conversion - SQL72027: File master.dacpac does not exist.

I was converting a database project to SSDT by following the steps at http://msdn.microsoft.com/en-us/library/hh272689(v=vs.103).aspx

The conversion was successful but when I tried to build the sqlproj, it gave the following error:
C:\Program Files (x86)\MSBuild\Microsoft\VisualStudio\v10.0\SSDT\Microsoft.Data.Tools.Schema.SqlTasks.targets(494,5): Error:  SQL72027: File "<project directory>\master.dacpac" does not exist.

To fix this error master.dacpac needs to be copied in the project directory.
If the Target Plaform is "SQL Azure", it can be copied from
"D:\Program Files (x86)\Microsoft Visual Studio 10.0\Common7\IDE\Extensions\Microsoft\SQLDB\Extensions\SqlServer\Azure\SQLSchemas"

Otherwise based on the platform, copy from the corresponding directory from
"D:\Program Files (x86)\Microsoft Visual Studio 10.0\Common7\IDE\Extensions\Microsoft\SQLDB\Extensions\SqlServer"