AN EMERGING MARKET 9 August 2013 STRATA SUBDIVISION A SURVEYORS PERSPECTIVE CRAIG TERRY Registered...

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Transcript of AN EMERGING MARKET 9 August 2013 STRATA SUBDIVISION A SURVEYORS PERSPECTIVE CRAIG TERRY Registered...

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  • AN EMERGING MARKET 9 August 2013 STRATA SUBDIVISION A SURVEYORS PERSPECTIVE CRAIG TERRY Registered Land Surveyor STRATA SUBDIVISION A SURVEYORS PERSPECTIVE
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  • What is Strata Subdivision? Strata subdivision is the creation of individual ownership rights in a Real Property Act title. In Tasmania this is achieved under the Strata Titles Act 1998.
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  • Why Strata Subdivision? It creates multiple titles facilitating ownership It is a cost efficient way to create affordable housing It adds value and creates alternative financing options
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  • Why uses a surveyor? Expert professional advise Strata Titles Act 1998 Planning scheme requirements Local Council approval process Land Titles Office procedures Expert technical ability A Strata subdivision plan must be certified by a registered surveyor - Section (5)(4) of the Act
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  • Who uses a land surveyor? Property owners Property developers Banks and financiers Real estate agents Vendors and purchasers
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  • Where is strata subdivision used? Residential properties that contain multiple dwellings. Commercial properties that allow separable commercial uses. Rural properties that have separable approved dwellings. Staged Strata Development Schemes under part 3 of the Act provide an opportunity to create separate titles based on an approved development.
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  • Urban residential strata subdivision A case study
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  • Staged Development Schemes A case study
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  • Commercial Strata Development A hypothetical exercise
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  • What skills must your Surveyor have? Experience, experience and more experience
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