Although the ecological and economic services rendered by the wetland ecosystems are innumerable, the exposure of inhabitants to hazardous climatic events is on the rise. For instance, the Kuttanad wetland ecosystem in Kerala, India, faces uneven rainfall patterns, leading to recurrent flooding. The present study examines people's vulnerability to elevated flooding risk in the region, factors responsible for migration in the wake of climate change and their adaptive capacity to such events. The primary survey-based study follows the theoretical framework of vulnerability and adaptive capacity. Physical asset loss, sinking houses, elevated health risks and loss of livelihood are factors identified for increased vulnerability to flood risks. The exacerbating vulnerability translates into the mass migration of local inhabitants. The Probit regression underscores the role of households' socio-economic background in migrating from the region, seeking safe havens. Marginalised social groups and people reliant on the local environment are most vulnerable. As per the study, the absence of pre and post-flood measures affects the adaptive capacity of the inhabitants. Given the gravity of flooding risk, the study suggests channelised policy measures that are quintessential to improve their resilience and adaptive capacity.