OK finally I think this is what i had to do ,
on presenting the view modally I am loosing the transluscent status bar instead get a transparent status bar,and also required to add my own navigation bar,thats how ios7 handles the status bar now, what i did is I wrapped the modally presented view into a navigation controller and then presented it , no changes i was required to do in segues just embedded the modal view controller in a navigation controller.
To embed a view in navigation controller in storyboard , just select the view go to Editor menu and select embed in-> navigation controller option.