Chennai after flood is car lovers’ paradise: Buy BMW, Audi for Rs 2 lakh!

January 25, 2016

Chennai, Jan 25: While many among us witnessed shocking images of flooded roads and submerged cars on their television screens during the floods that struck southern India last year, certain fortune hunters were resourceful enough to look beyond the tragedy to spot a one-in-a-lifetime opportunity. Today, many among them – automobile dealers as well as individual buyers – are making a beeline for a city that’s giving away luxury vehicles worth crores for a fraction of their actual price tag.

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The bargains are unbelievable – a 2009 model BMW or an Audi for as low as Rs 2 lakh, a Land Rover worth Rs 1.25 crore for a mere Rs 18 lakh – and it only gets better. The competition is heating up now, and an ever-increasing number of people are taking the opportunity to score some wheels that they could otherwise imagine owning only in their wildest of dreams.

If you are really lucky, like textile manufacturer T Mathavraja from Salem turned out to be, you could drive home in a 2014 model Audi A6 that doesn’t even need any tinkering. Revealing that he paid just Rs 17 lakh for the car, an audibly excited Mathavraja gushed over the phone: “No, I did not even have to spend a paisa on repairs, not even for cleaning the vehicle! I just got in and began driving.”

The auction was conducted by cardekho.com at its yard in Tiruverkadu, Chennai.

“It felt fantastic to win this baby, when there were some 20-25 bidders at the auction! I would otherwise have had to pay Rs 50 lakh for it,” he said, adding that he mostly relied on his gut feeling to make the purchase.

However, Arvind Dabas – a former Delhi police constable-turned-car dealer operating from Delhi and Noida – brought with him a team of 15 highly trained mechanics armed with modern gadgets that leave nothing to chance. Speaking to HT, he said this could only be a win-win situation for him.

“There is no chance of making a loss. If there is vehicle that’s completely damaged, I rip it apart for parts. We will get its registration cancelled and buy it as scrap,” he said.

His team, comprising three engineers and a dozen mechanics, has been housed at a rented place in the outskirts of the city.

Dabas, who wants to buy many flood-damaged cars – irrespective of size or condition – from Chennai, intends to spend four to five months in the city. He has taken a huge 10-acre yard, capable of holding a couple of thousand cars, on rent.

The former constable is an old hand at purchasing cars damaged in natural disasters. Though he had bought around 300 cars in the aftermath of the Jammu and Kashmir floods, it couldn’t compare to Chennai – which he claimed was the “biggest” in terms of damages and number of cars on offer.

The city found another bulk buyer in Tayyab Mirza from Hyderabad, who picked up around 40 cars of various makes and brands.

If there’s somebody else who’s smiling amid all this, it’s the auctioneer himself – cardekho CEO Abhishek Gautam. This is his fourth flood-related auction, the previous ones being the 2005 Mumbai floods, the 2006 Surat deluge and – finally – the Jammu and Kashmir floods of 2014. He says that Chennai, by far, suffered the most in terms of vehicular damage.

“Auctioning some 5,000 vehicles is going to take quite some time, which is why I have taken a flat on rent for myself as well as my team from Delhi,” he said. Most of the submerged vehicles suffered from damage to their engines as well as electronic circuitry, Gautam added.

Dabas, quite an expert at vehicles himself, gives his opinion with greater authority. He says that while some cars suffered little damage and were in need of only a little tinkering, others – like a Land Rover he bought – would need anywhere between Rs 3-4 lakh to be made roadworthy.

“This is the estimate given by my engineers, and they are usually right,” he said in a telephonic conversation. His more notable purchases included a shiny Audi – barely a few months old – with a price tag of just `18 lakh.

These auctions also work to the advantage of insurers, who are otherwise stuck with the tough job of paying the clients their dues. “The more successful the auction, the better we can plug our losses,” said an insurance company official.

Insurance firms were flooded with as many as 30,000 claims for damaged vehicles during the November-December deluge. As many as 10,000 of these vehicles would have to be auctioned off, sources said, adding that high-end luxury cars would take at least three to six months to dispose of.

While owners can directly sell a damaged car, not many prefer to do it on account of the paperwork required as well as security issues. Alternatively, insurance companies deal with used car dealers who either repair it or sell it as scrap. The third option is to give the vehicles to auctioneers such as cardekho.com, auctions division and copart.in, which will try to get the best price for you.

Besides physical auctions, players like cardekho.com and copart.in carry out online auctions – thereby allowing people across the world to participate in the bidding process. And in a situation that works to the benefit of everybody from the insured to the auctioneers and the lucky buyers, the only losers turn out to be insurance companies.

“We are trying to cut down our losses… but all the claims are being settled in a fair and just manner to ensure that our clients don’t suffer,” the regional head of an insurance company said on the condition of anonymity.

The losses suffered by insurance companies due to the 2015 floods are huge, and it would be impossible to gauge the quantum of the claims at this juncture, he added.

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Comments

Srikanth
 - 
Thursday, 5 Jul 2018

I need innova flooded car

Hildegarde
 - 
Friday, 12 Feb 2016

Hello! This is my first visit to your blog! We are a collection of volunteers and starting a new initiative in a community in the same niche.

Your blog provided us beneficial information to work
on. You have done a extraordinary job!

Also visit my blog post - self driving cars: http://autotechnews.net/tag/self-driving-cars/

niyaz
 - 
Wednesday, 27 Jan 2016

Am shocked abt the deal i want to knw more

niyaz
 - 
Wednesday, 27 Jan 2016

I want to knw more about ds deal i want to buy but wanna knw da deal

mohammad.n
 - 
Tuesday, 26 Jan 2016

definitely i believe the engines are ceased due to water. I hope they have replaced original engine?

J Ahmed
 - 
Tuesday, 26 Jan 2016

Good Morning Dear Respected Sir
Intrested in these flooded Cars

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coastaldigest.com news network
February 5,2020

Tumakuru, Feb 5: Former Lokayukta Justice N Santhosh Hegde has questioned the integrity of the B S Yediyurappa led BJP government as it has not taken an action to abolish the Anti Corruption Bureau (ACB) to re-establish the Lokayukta in Karnataka.

Speaking after felicitating the retired scientist of NASA Gopal Iyengar at the Karnataka Public School at Kadaba in Gubbi taluk he reminded that the BJP had promised to establish the Lokayukta.

"No party will like to strengthen the Lokayukta and now BSY is also tightlipped and even put an end by appreciating that ACB has been doing a good job", he regretted.

In fact, the Lokayakuta had the power to prosecute even the top brass of officials and now the ACB cannot without the government's permission, he clarified.

He denied any remarks on the CAA and NRC but observed that the youths of the country have been misguided by the politicians as they lost their focus on education by involving in protest rallies.

"I suggest they to straight away take a political plunge instead of getting misused at the hands of the politicians with selfish motives", he said.

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News Network
May 21,2020

Mangaluru, May 21: The Supreme Court has awarded Rs 7.64 crore compensation to the next of kin of a man who was killed in a crash-landing of Air India Express Flight 812 from Dubai in Mangalore on May 22, 2010. The accident killed 158 out of 166 passengers on board.

The family of the 45-year-old Mahendra Kodkany, which include his wife, daughter and son, were earlier granted Rs 7.35 crore as compensation by National Consumer Disputes Redressal Commission (NCDRC). This compensation will now get enhanced after adding 9 per cent interest per annum (on the amount yet to be paid), to be paid by Air India.

Kodkany was the regional director for the Middle East for a UAE-based company. The aircraft overshot the runway and went down a hillside and burst into flames.

A bench comprising Justices D.Y. Chandrachud and Ajay Rastogi said: "The total amount payable on account of the aforesaid heads works out to Rs 7,64,29,437. Interest at the rate of nine per cent per annum shall be paid on the same basis as has been awarded by the NCDRC. The balance, if any, that remains due and payable to the complainants, after giving due credit for the amount which has already been paid, shall be paid within a period of two months."

The apex court noted that in a claim for compensation arising out of the death of an employee, the income has to be assessed on the basis of the entitlement of the employee. The top court said: "We are unable to accept the reasons which weighed with the NCDRC in making a deduction of AED (UAE currency) 30,000 from the total CTC. Similarly, and for the same reason, we are unable to accept the submission of Air India that the transport allowance should be excluded. The bifurcation of the salary into diverse heads may be made by the employer for a variety of reasons."

The top court observed that the deceased was evidently, a confirmed employee of his employer. "We have come to the conclusion that thirty per cent should be allowed on account of future prospects", added the court.

The top court noted that if the amount which has been paid by Air India is in excess of the payable under the present judgement, "we direct under Article 142 of the Constitution (discretionary powers) that the excess shall not be recoverable from the claimants," said the court.

Comments

A.Rahman
 - 
Friday, 22 May 2020

First of all  A Salute To Lawyer One Who Handled This Case Against Carriers Mismanagement Wrong Action.

 

Sure this is the second victory for the lawyer against arriers mismanagement.

 

Over all it is the sign  of a profesional ; qualified  eligble  lawyers efforts and right decision from a capable knowlegable judge. Suit case operating lawyers cannot handle such specilized cases.

They lawyer may handled rest of the vicitms cases or he not. But for his siincere efforts for the past ten years delcares whatn he  is. Am personally met him and  witnessed his court appearance  hope and wish him all the best and success .

 

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News Network
July 28,2020

Hounde, Jul 28: Coronavirus and its restrictions are pushing already hungry communities over the edge, killing an estimated 10,000 more young children a month as meager farms are cut off from markets and villages are isolated from food and medical aid, the United Nations warned Monday.

In the call to action shared with The Associated Press ahead of publication, four UN agencies warned that growing malnutrition would have long-term consequences, transforming individual tragedies into a generational catastrophe.

Hunger is already stalking Haboue Solange Boue, an infant from Burkina Faso who lost half her former body weight of 5.5 pounds (2.5 kilograms) in just a month. Coronavirus restrictions closed the markets, and her family sold fewer vegetables. Her mother was too malnourished to nurse.

“My child,” Danssanin Lanizou whispered, choking back tears as she unwrapped a blanket to reveal her baby's protruding ribs.

More than 550,000 additional children each month are being struck by what is called wasting, according to the UN — malnutrition that manifests in spindly limbs and distended bellies. Over a year, that's up 6.7 million from last year's total of 47 million. Wasting and stunting can permanently damage children physically and mentally.

“The food security effects of the COVID crisis are going to reflect many years from now,” said Dr. Francesco Branca, the WHO head of nutrition. “There is going to be a societal effect.”

From Latin America to South Asia to sub-Saharan Africa, more poor families than ever are staring down a future without enough food.

In April, World Food Program head David Beasley warned that the coronavirus economy would cause global famines “of biblical proportions” this year. There are different stages of what is known as food insecurity; famine is officially declared when, along with other measures, 30% of the population suffers from wasting.

The World Food Program estimated in February that one Venezuelan in three was already going hungry, as inflation rendered salaries nearly worthless and forced millions to flee abroad. Then the virus arrived.

“Every day we receive a malnourished child,” said Dr. Francisco Nieto, who works in a hospital in the border state of Tachira.

In May, Nieto recalled, after two months of quarantine, 18-month-old twins arrived with bodies bloated from malnutrition. The children's mother was jobless and living with her own mother. She told the doctor she fed them only a simple drink made with boiled bananas.

“Not even a cracker? Some chicken?” he asked.

“Nothing,” the children's grandmother responded. By the time the doctor saw them, it was too late: One boy died eight days later.

The leaders of four international agencies — the World Health Organization, UNICEF, the World Food Program and the Food and Agriculture Organization — have called for at least dollar 2.4 billion immediately to address global hunger.

But even more than lack of money, restrictions on movement have prevented families from seeking treatment, said Victor Aguayo, the head of UNICEF's nutrition program.

“By having schools closed, by having primary health care services disrupted, by having nutritional programs dysfunctional, we are also creating harm,” Aguayo said. He cited as an example the near-global suspension of Vitamin A supplements, which are a crucial way to bolster developing immune systems.

In Afghanistan, movement restrictions prevent families from bringing their malnourished children to hospitals for food and aid just when they need it most. The Indira Gandhi hospital in the capital, Kabul, has seen only three or four malnourished children, said specialist Nematullah Amiri. Last year, there were 10 times as many.

Because the children don't come in, there's no way to know for certain the scale of the problem, but a recent study by Johns Hopkins University indicated an additional 13,000 Afghans younger than 5 could die.

Afghanistan is now in a red zone of hunger, with severe childhood malnutrition spiking from 690,000 in January to 780,000 — a 13% increase, according to UNICEF.

In Yemen, restrictions on movement have blocked aid distribution, along with the stalling of salaries and price hikes. The Arab world's poorest country is suffering further from a fall in remittances and a drop in funding from humanitarian agencies.

Yemen is now on the brink of famine, according to the Famine Early Warning Systems Network, which uses surveys, satellite data and weather mapping to pinpoint places most in need.

Some of the worst hunger still occurs in sub-Saharan Africa. In Sudan, 9.6 million people live from one meal to the next — a 65% increase from the same time last year.

Lockdowns across Sudanese provinces, as around the world, have dried up work and incomes for millions. With inflation hitting 136%, prices for basic goods have more than tripled.

“It has never been easy but now we are starving, eating grass, weeds, just plants from the earth,” said Ibrahim Youssef, director of the Kalma camp for internally displaced people in war-ravaged south Darfur.

Adam Haroun, an official in the Krinding camp in west Darfur, recorded nine deaths linked with malnutrition, otherwise a rare occurrence, over the past two months — five newborns and four older adults, he said.

Before the pandemic and lockdown, the Abdullah family ate three meals a day, sometimes with bread, or they'd add butter to porridge. Now they are down to just one meal of “millet porridge” — water mixed with grain. Zakaria Yehia Abdullah, a farmer now at Krinding, said the hunger is showing “in my children's faces.”

“I don't have the basics I need to survive,” said the 67-year-old, who who hasn't worked the fields since April. “That means the 10 people counting on me can't survive either.”

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