Hello CBF
In NSW the answer can be found in the RG’s directions:
It is the responsibility of the surveyor to show the schedule of unit entitlements, however the information should be provided to the surveyor by the developer. The unit entitlements should be based upon the market value of the lots. Attention is drawn to section 183 Strata Schemes Management Act 1996.
So the market value would be influenced by such factors as unit size, aspect, and views.
It is recognised that there may be a need to change the schedule of unit entitlements after the plan is registered. Once again from the RG’s directions:
Change of unit entitlements
Changes may be made to the unit entitlements of a scheme in several ways.
- Upon registration of a strata plan of subdivision which involves common property it is permitted to alter the unit entitlements for all of the lots in the scheme and change the aggregate. This will require the provision of Approved form 11 indicating the owners corporation has passed a special resolution agreeing to the changes.
- An order may be made by the NSW Civil and Administrative Tribunal (NCAT) to reallocate the unit entitlements of a scheme if at the time the plan was registered they were unreasonable or over time they became unreasonable. See section 183 Strata Schemes Management Act 1996.
- Upon registration of a notice of notice to convert a strata lot to common property the unit entitlement for the lot will be removed and the aggregate will be reduced by that amount.
Hope that info helps to clarify the situation.
Dave 