invalid deployment target for -stdlib=libc++ (requires iOS 5.0 or later)

While running iOS module directly from terminal using titanium.py getting following error:

invalid deployment target for -stdlib=libc++ (requires iOS 5.0 or later)

Titanium SDK 3.5.0,

simulator iPhone 6 or 6 +,

Deployment target 6.0,

OS version 8.1