Stainless steel possesses good mechanical properties combined with a high corrosion resistant. The cold rolled stainless steel leads to very good mechanical and chemical properties due to enhanced dislocation densities, increased residual stresses, strain hardening and for the presence of some amount of deformation induced metastable martensite phase. The deformation induced martensite is greatly influenced the pitting corrosion, intergranular corrosion and atmospheric corrosion. The scope of this study was to achieve the correlations between the mechanical, corrosion and structural properties of cold rolled stainless steel. In this paper authors tried to correlate the increase in hardness and corrosion resistance properties in atmospheric and in chloride ion containing corrosive environment of 0 to 80 % cold rolled samples in non sensitized and sensitized conditions.