Problems and Solution
It became slightly difficult to catch up with the Maya to mud box work flow . But doing some research and asking questions to my professor helped me out through the journey . First I was even finding out difficult to understand why UV unwrap and why UV map but Some tutorials on you tube sorted the answers for these questions .The tutorial was from this link below
This tutorial made it so easy to understand the workflow which was related to the UV Unwrap and mapping the checkers on the object .
I also went thought several other tutorials
http://www.youtube.com/watch?v=XDOKfvojB2w
which gave detailed description about how displacement map and normal map is to be done . So this Tutorials was the starting point to move the mesh from Maya to mud box . It also sorted my confusions out with UV unwrap and mapping checkers . It made me understood the step by step workflow from Maya to mud box .
Finally I am ready to jump to the step two now :)