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Mobility management in the wireless domain is a challenging issue for the next generation networks. Frequent change of network requires a new IP address to route packets from one host to another. It is done by sending the mobile node (MN) binding update to the Home Agent (HA) when the Care of address (CoA) gets changed. This registration requires large number of location updates, excessive signaling overhead and service delay. This problem is solved by Hierarchical Mobile IP (HMIP) protocol using the concept of hierarchy of Foreign Agent and the Gateway Foreign Agent /Mobility Anchor point to localize the registration information. This article presents an overview of set of HMIP based mobility protocols such as HMIP, PHMIP, RHMIP, DHMIP, FFHMIP, MIFA etc. that will play an important role in IP based mobility management. We analyze the advantages and disadvantages of theses protocols in the context of handoff latency and signaling overhead. Further, we propose a network model by removing the binding update with HA and simulate its performance in OPNET simulator. The simulation results show that our proposed mechanism achieve better performance than other protocols.