Hi Prajakta,
did you migrate the 700 wd java applications to 730?
When you create project for a 700 DC in NWDS 730, then due to the release difference it offers automatically a migration process for the given DC? If it would not show up automatically then I belive there must be a context menu entry for migration when right clicking on the given DC in NWDS.
If you did not do this, then this might be the missing step. If the migration is resolving the current compilation issues, then I expect that the broken DCs will disappear as well.
Best Regards,
Ervin