building or land intended for subdivision into parcels "building or land intended for subdivision into parcels" means (a) any building or buildings having two or more storeys in a development area and intended to be subdivided into parcels; and any land on the same lot intended to be subdivided into parcels to be held under a separate strata title or for which an application for subdivision has been made under the Strata Titles Act 1985 [Act 318]; or (b) any development area having two or more buildings intended to be subdivided into land parcels as defined in the Strata Titles Act 1985; ACT 663 - BUILDING AND COMMON PROPERTY (MAINTENANCE AND MANAGEMENT) ACT 2007 2. Interpretation.