Gender equality and inclusivity are essential components of the Sustainable Development Goals (SDGs) for a just and equitable society. Gender equality varies significantly in the world order. Southeast Asia scored 39 in Social Institutions and Gender Index (SIGI), higher than the global average of 29 and the average for OECD nations. The traditional indicators of gender equality do not account for women’s deprivation in the socio-economic and political aspects of society. Hence, the need arises to define a parameter considering these aspects of women’s deprivation. This study aims to develop a Multidimensional Capability Deprivation (MCD) index to quantify the degree of deprivation across various development indicators. Based on Amartya Sen’s capability approach as the theoretical framework, this work employs the Alkire-Foster Multidimensional measurement to assess the deprivation of women in terms of their capabilities in various development indicators. The study found that the deprivation headcount (H) was around 59%. The degree of deprivation (A) is 43%. The total capability deprivation of women in multiple indicators (M0) is 25%. The results indicated that although 59% of the women were deprived, 25% were deprived in more than one dimension. It was found that the highest level of deprivation was in education, followed by political participation due to structural and non-structural factors, respectively. The proposed MCD index could be used in other similar contexts to study intangible factors where capability deprivation experienced by women is still significant.