Although there exist many mitigation and adaptation responses for disaster management, with specific reference to floods, still there are some residual impacts which arise from insufficient mitigation and inadequate adaptation, known as loss and damage (L&D). Literature has identified familiar methodologies, namely Damage and Loss Assessment, Post Disaster Needs Assessment, Catastrophe Simulation, Hazus-MH, and econometric models to quantify “loss” and “damage” separately, but, given that the starting point of L&D, being the livelihood vulnerability context of the individuals, there is a need for comprehensive approach to quantify residual “loss and damage” on the livelihood assets. This study has adopted a bottom-up approach, Sustainable Livelihood Framework and revised to provide the quantitative estimates of loss and damage of floods to the five types of capital assets (human, social, physical, financial, natural), at the individual level. A panel regression model can be used to determine the losses inflicted to each capital asset, which can be further used to derive first and second order loss and damage estimates for identifying room(s) for flood recovery interventions. A set of individual specific and community specific characteristics play an important role in determining the influence of floods on each indicator of each type of capital asset. However, this model can find differential impacts of different types of disaster in different regions across different individuals, depending on their exposure.