Vertical handover gain significant importance due to the enhancements in mobility models by the Fourth Generation (4G) technologies. However, these enhancements are limited to specific scenarios and hence do not provide support for generic mobility. Similarly, various schemes are proposed based on these mobility models but most of them are suffered from the high packet loss, frequent handovers, too early and late handovers, inappropriate network selection, etc. To address these challenges, a generic vertical handover management scheme for heterogeneous wireless networks is proposed in this article. The proposed scheme works in three phases. In the first phase, a handover triggering approach is designed to identify the appropriate place for initiating handover based on the estimated coverage area of a WLAN access point or cellular base station. In the second phase, fuzzy rule based system is designed to eliminate the inappropriate networks before deciding an optimal network for handover. In the third phase, a network selection scheme is developed based on the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) decision mechanism. Various parameters such as delay, jitter, Bit Error Rate (BER), packet loss, communication cost, response time, and network load are considered for selecting an optimal network. The proposed scheme is tested in a mobility scenario with different speeds of a mobile node ranging from very low to very high. The simulation results are compared with the existing decision models used for network selection and handover triggering approaches. The proposed scheme outperforms these schemes in terms of energy consumption, handover delay and time, packet loss, good put, etc.