A speed estimation technique for the permanent magnet synchronous motor drive is presented in this paper A Model Reference Adaptive System (MRAS) has been formed using the voltage and current to estimate the speed. It has been shown that such unique MRAS offers several desirable features. The proposed technique is completely independent of stator resistance and is less parameter sensitive, as the estimation-algorithm is only dependent on q-axis stator inductance. Also, the method requires less computational effort as the simplified expressions are used in the MRAS. The stability of the proposed system is achieved through Popov’s Hyperstability criteria. Matlab simulation results are presented to validate the proposed technique.