UML and UML based methodologies have received significant interests from SoC community in recent time. UML, based on meta-modeling mechanism, offers customization towards a specific domain in form of UML profiles, which provides a light-weight approach towardshigh-level modeling and can be seen as effective way of modeling the specialized domains like SoC design. Transaction level modeling has now become an important aspect of SoC design. To improve the design productivity of SoCs, we are working on developing a UML/SysML based methodology for TLM2 standard.