Objective: To design and propose an optimized Volatile 7T based SRAM cell in terms of leakage currents and dynamic power. Methods: The methodology involved is Multi threshold Voltage CMOS (MTCMOS), Self Controllable Voltage Level (SVL) and Improved Self Controllable Voltage Level (I-SVL). Findings: The proposed work demonstrates that 7T based SRAM cell using I-SVL method is efficient in terms of leakage currents and dynamic power. Also, Comparative Leakage current and dynamic power analyses are done between MTCMOS, SVL, and I-SVL methods The Proposed work based on I-SVL is significant than the MTCMOS and SVL Technique. All the circuits are developed using the Cadence virtuoso tool and spectre simulator is used to carry out the simulation. Novelty: The paper proposes Low power Volatile Memory cell based on 7T with improvements in leakage and dynamic power values in comparison with the earlier literatures. The proposed I-SVL based cell is 89% and 85% efficient in terms of dynamic power in comparison with the earlier references.