We experimentally and numerically demonstrate a planar metamaterial consisting of two asymmetrically positioned pi-structures in a single unit that exhibits plasmonic analogue of electromagnetically induced transparency (EIT). Through the coupling of the constituent nanorod elements, the proposed structure enables fine spectral tuning of the EIT-like behavior and controlling the location of near field enhancement. Originated from the asymmetric cascaded pi-structures, we introduce a more compact system which possesses the EIT-like characteristics and as well as much smaller mode volumes. Due to these properties, the proposed metamaterials can be utilized for a wide range of applications including bio-chemical sensors, optical filters and modulators and enhancement of non-linear processes. (C)2011 Optical Society of America