You will need council approval and a special resolution by-law from your owners corp.
The formula, as established by the High Court is x = a – (b+c) where
x = the amount you pay the owners corp
a = the agreed estimated value of the improved apartment
b = the agreed value of the unimproved apartment
c = the agreed cost of the improvements, including plans and legals
Hope that makes sense to the algebra-challenged.
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