The development of smart phones and social networking applications increases the demand of high speed Internet services anywhere anytime. To provide seamless Internet connectivity, Internet Engineering Task Force (IETF) has proposed Mobile IPv6 (MIPv6) as host-based basic mobility management protocol. But due to rapid growth in mobile subscribers, the MIPv6 and its subsequent protocols such as Fast MIPv6 (FMIPv6), Hierarchical Mobile IPv6 (HMIPv6) etc. are unable to handle the requests generated by mobile subscribers. To overcome from problems, such as handover delay, authentication delay, over the air tunneling overhead, packet loss, etc., associated withhost-based mobility management protocols, the IETF has proposed network-based mobility management protocol. The Proxy Mobile IPv6 (PMIPv6) is a network based mobility management protocol, in which mobility related signaling are carried out by network entities on behalf of the mobile node. However, the PMIPv6 still suffers from high handover latency and packet loss during handover. This paper analyzesthe performanceof mobility management protocolsin terms of binding update cost, packet delivery cost, tunneling cost and compares these parameterswith the proposed Fast and Secure PMIPv6 (FS-PMIPv6). The comparative performance analysis shows that proposed protocol gives a better performance in terms of terms of security and signaling overhead.