The objective of the present work is to study the physicochemical and functional properties of taro starch (Colocasia esculenta) and to further modify the starch by treating with citric acid to obtain a novel functional material. DSC, FTIR and SEM studies were performed along with physicochemical analysis. The disintegrant efficiency ratio and dissolution efficiency were determined on paracetamol tablets prepared by wet granulation taking the starch as a binder-disintegrant. The moisture content and ash values of taro and citrate taro starches were about 13% and 0.5% respectively. The average particle size of taro starch was found to be 1.53 μm and citration was not found to cause significant changes in the particle size. Results from disintegration efficiency study showed that both the taro and citrate modified taro starch showed tablet disintegrant property and even performed better than the standard corn starch. The reduced disintegration time was also found to enhance dissolution of the model drug from the tablet.