It takes huge planning to build a home or chalk out the layout of an apartment. It cannot be done singlehandedly by a developer as you need the approvals, documentation and other relevant papers just to start working on a project. Different papers are required for diverse establishments. A residential house will be needing different papers from that of a commercial apartment. If this is not the end, there is something called strata title subdivision in Sydney. Are you aware of it?
Suppose you own a huge land. You don’t want to sell it off as a whole rather would like to have different kinds of establishment in a single plot. You want a commercial building, a residential apartment and a community hall for the senior citizen all in one single land. In this case, you need to acquire a strata title subdivision certificate where a single plot will be divided into multiple lots having different buildings. In this kind of properties, the owners have the liberty to use the property as they want. They stay as the sole owner of the plot and plan out ways how to deal with the individual buildings and its management.
The group of owners form a community and takes up the responsibility of maintaining the individual buildings. The law is pretty new but has been able to attract more than a million properties which are running smoothly all around Australia. Not just the residential properties but the commercial and industrial plots too are taking up the strata title subdivision in Sydney for better management of the establishment. It can further include retirement resorts, car parking lots and hotels. Previously, the shareholders having a larger stake in the company had the greater hand in the building making the division imbalanced. However, with the implementation of this rule, the division has been equalised.
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