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Development of efficient algorithm on series compensated parallel transmission line is presented. The new algorithm is developed using instantaneous fault data collected from both ends of the line, in order to estimate the fault location and fault resistance accurately. Firstly, single transmission line with series compensation unit, which is located in the middle, is modelled using ATP program and tested with the new algorithm with number of different fault cases. Then the algorithm further improved for the testing of parallel series compensated parallel transmission lines. A sample example of estimation of fault location and resistance on single line model is reported and discussed in this paper, and a comprehensive summary of fault location estimations for single line model is presented in this paper. At present, the algorithm is being tested for parallel transmission lines and results obtained from trial run are satisfactory. However, further testing of parallel transmission lines case will be presented in publication.