In this paper a novel sensorless speed control scheme of Induction Motor (IM) by means of Direct Torque Fuzzy Control (DTFC), PI-type fuzzy speed regulator and fuzzy based Model Reference Adaptive Systems (MRAS) speed estimator strategies has been proposed, which seems to be a boom in sensorless speed control schemes of AC drives. Normally, the conventional sensorless speed control performance of IM drive deteriorates at low speed. Hence the attention has been focused to improve the performance of the IM drive at low speed range as well, by implementing fuzzy control strategies. So, this research work describes a novel adaptive fuzzy based speed estimation mechanism which replaces the conventional PI controller used in MRAS adaptation mechanism. The proposed scheme is validated through extensive numerical simulations on MATLAB. The simulated results signify that the proposed control scheme provides satisfactory high dynamic performance and robustness during low speed operations of IM drive compare to conventional sensorless speed estimator of DTFC scheme.