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From recent past, the computational Grid based flood assessment and forecasting models is getting emerged as an interdisciplinary integrated `near real time/real time model'. Many such, Grid based flood assessment and forecasting model supports in logically integrating various components of flood related scientific simulations such as Metrological, Hydrological, Hydraulic, RADAR, LIDAR Remote Sensing, GIS, Satellite Communication and other technologies and derives the end result which can be straight away used by the disaster mitigation team member/end user. This paper mainly brings out the emerging technological trends observed in the fields of computational Grid based flood assessment and forecasting models by surveying the flood forecasting model of `Cross Grid' as well as the operational flood model of ESA Grid. Details reflecting the technology trends and simulation methods adopted by the `GARUDA Grid' flood assessment experimental model have been given.