The Punjab region of Pakistan faced significant losses from flash flooding in 2010 and experienced a multiyear drought during 1998–2002. The current study illustrates the drought and flood conditions using the multi-satellite data products derived from the Moderate Resolution Imaging Spectroradiometer (MODIS) and Tropical Rainfall Measuring Mission (TRMM) as well as the TRMM Multi-satellite Precipitation Analysis (TMPA) satellites with high-quality resolution in the region of Punjab during 2010–2014. To determine the drought and flood events, we used the Vegetation Temperature Condition Index (VTCI) drought monitoring approach combined with the Normalized Difference Vegetation Index (NDVI) and Land Surface Temperature (LST) to identify the warm and cold edges (WACE) in the provision of soil moisture as well as the VTCI imagery using the MODIS-Aqua data products. We assessed the 2010 flood effect on the four years (2011–2014) of drought conditions during winter wheat crop seasons. The obtained VTCI imagery and precipitation data were utilized to validate the drought and flood conditions in the year 2010 and the drought conditions in the years 2011–2014 during the winter-wheat-crop season. It is worth mentioning that over the four years (2011–2014) of the Julian day~D-041 year, the VTCI shows a stronger link with the accumulative precipitation anomaly (r = 0.77). It was found that for D-201 during the 2010 flood was the relationship was nonlinear, and in D-217, there was a negative relationship which revealed the flood timing, duration, and intensity. For D-281, a correlation (r = 0.97) was noted during fall 2010, which showed the drought and flood extreme conditions for the winter-wheat-crop season in the year 2010–2014. In regard to 2010, the Global Flood Monitoring System (GFMS) model employs the TRMM and TMPA data products to display the study region during the 2010 flood events and validate the VTCI results. This study’s spatial and temporal observations based on the observed results of the MODIS, TRMM, and TMPA satellites are in good agreement with dry and wet conditions as well as the flood runoff stream flow and flood intensity. It demonstrates the flood events with high intensity compared with the normality of flood with the complete establishment of flood events and weather extremes during the year of 2011–2014, thereby highlighting the natural hazards impacts. Our findings show that the winter wheat harvest was affected by the 2010 monsoon’s summer high rain and floods in the plain of Punjab (Pakistan).