What is said in STA and SMA on Share Unit?
SMA “Share Unit” refers to STA Section 4 which is:
“in respect of a parcel, means the share units determined for that parcel as shown in the schedule of share units;”
The weightage and share units calculation is found in Strata Management Act, 2013 (SMA) under First Schedule. All area used in calculation is square meter (sqm).
The share unit of a parcel of strata property is calculated by the area of parcel x weightage 1 x weightage 2 + area of accessory parcel x weightage 3
Share Unit = Area Parcel x W1 x W2 + Accessory Parcel x W3
What are Weightage 1 (W1), Weightage 2 (W2) and Weightage 3 (W3)?
W1 = Varies between type of parcel – condo, hotel, retail or offices.
W2 = Varies between whole floor parcel include or exclude vertical transport core. If not whole floor, it is 1.0.
W3 = Varies between outside or inside building for the accessory parcel.
Take an example a Condo unit of 20 levels with 6 units per level and serviced by 2 lift cars. Lifts are used by all and there is no air-conditioning at corridors outside the condo units.
Unit area – 120sqm
2 car parks – 2 x 16sqm outside the building
Share Unit of this parcel:
120 x 1.0 x 1.0 + 32 x 0.25 = 128.
If there are 20 floors of 6 units each at 128, the total Share Unit of the Strata Building is 20 x 6 x 128 = 15,360.
Tomorrow, we will calculate the share unit of a penthouse.