Strata law will make developers' lives easier
15 Mar 2010
Sydney is about to have an emotional legislative debate about property rights. This is because ageing strata developments are deemed by the development industry to be decaying time bombs.
Strata title law has no easy mechanism to allow for their redevelopment, and developers have expressed their frustrations since the days of the former NSW premier Bob Carr.
One owner can thwart the plans of everyone else.
The Keneally government envisages legislation by June, which will establish a development authority with sweeping powers to compulsorily acquire privately owned property for resale to developers.