Tata Hydro Electric bought property worth Rs 16 crore from Nelco, while Telco Construction struck a Rs 9.03-crore deal with Telco, and Tata Transport bought from Rallis a residential property in South Mumbai for Rs 1.55 crore.

The month's other significant property deals involved the Ahmedabad-based Arvind Mills and multinational Hindustan Lever. Arvind Mills has purchased a three-storey building `Neptune House' at Bandra for 9.07 crore. The property, held by Anagram Finance--a former group outfit which has recently been taken over by ICICI--was earlier known as `Sakina Manzil'.

Hindustan Lever invested Rs 2.90 crore in a 1,660 square feet residential property with parking space off Altamount Road in Mumbai.

The single-largest property investment in Mumbai forApril was, however, made by Saga Department Stores which has purchased a property at Bandra for Rs 24.65 crore. The deal was struck with Falak Home Developers.

Small investment and trading companies have dominated the property market with some high-value deals. Property experts say these companies are acting as front companies for bigger corporate houses helping them siphon off money.

Opera Investments & Trading Company bought 5,200 square feet of residential space in Woodlands building at South Mumbai from Arvind Laxman Apte investing Rs 10.60 crore. Uranus Trading Pvt is another small finance company which made an investment of Rs 4 crore for a residential space at Urvashi apartments at Napean Sea at South Mumbai.

Keystone Trading Ltd bought land and built-up space in Juhu from private parties at Rs 6.11 crore. The other small company which has made a substantial investment is the Hausa group -- Rs 4.70 crore for a residential property at Colaba.

Among other signicant deals of the month, GujaratPipavav Port Ltd has purchased a residential premise at south Mumbai for Rs 2.02 crore and RPG outfit Ceat has sold a residential premise to a private party for Rs 1.35 crore.