Unit Entitlements – Staged development ‘off the plan’

Hi,

We bought our apartment ”off the plan” and I was wondering if I am in a position to have the Unit entitlements queried?

Some background.

We have 12 identical ground floor apartments with identical outlooks and only a very minor variation in size. see below;

This was a staged development and as such some apartments were purchased for different prices. Obviously, the earlier you purchased the lower the price as the developer was still trying to secure finance.

However, all apartments had been purchased 15 months prior to the Strata Plan being registered.

It is my understanding that Unit Entitlements are based on market value at the time the Strata plan is registered and not on purchase price, is this correct?

As I said all apartments are identical, with the same outlook – 1C and 12C being the end apartments do not have an adjoining apartment on one side, that is the only advantage I can see.

We think they have possibly allocated the Unit Entitlements on sale price & not market value.  2C was one of the last purchased (at a higher price) and has the highest unit entitlement – also interestingly 11C which has the lowest entitlement by far was purchased by one of the real estate agents selling the development.

Also is the following correct:

“IF less than 2 years has elapsed since your Strata Scheme was Registered then a revision of the Schedule of Unit Entitlements for as few as one Lot can be achieved without the need for Orders by the Tribunal, and without the concurrence of all Owners.”

Many thanks

Connie