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Femtocells are low-power, low cost, backward compatible and portable wireless access points that operate in licensed spectrum to connect standard mobile devices to a mobile operator's network using residential DSL or cable broadband connections. Femtocells are taken as a promising option today by mobile operators for improving coverage and provide high-data-rate services in a low cost manner. Femtocells are installed at locations where users are experiencing unsatisfactory radio coverage or they require high-data-rate. There are many technical challenges for femtocells but the main technical challenge is the efficient location management. The conventional location management mechanism will not work efficiently in NGWN (Next Generation Wireless Networks) in future. This paper analyzes the technical issues and proposes an efficient location management mechanism for NGWN femtocells. Here, we have taken the paging delay and paging cost issues for performance analysis, which will show the effectiveness and advantages of the mechanism. The proposed mechanism can be taken into consideration for implementing it at a large scale in NWGN networks.