reallocation vs parcelling

reallocation and parcelling both are nouns.

Word	Noun	Adjective	Verb	Adverb
reallocation	Yes	No	No	No
parcelling	Yes	No	No	No

As nouns, parcelling is a hypernym of reallocation; that is, parcelling is a word with a broader meaning than reallocation:

reallocation: a new apportionment (especially a new apportionment of congressional seats in the United States on the basis of census results)
parcelling: the act of distributing by allotting or apportioning; distribution according to a plan

Other hypernyms of reallocation include allocation, allotment, apportioning, apportionment, assignation, parceling.

reallocation (noun)	parcelling (noun)
a new apportionment (especially a new apportionment of congressional seats in the United States on the basis of census results)	the act of distributing by allotting or apportioning; distribution according to a plan
a share that has been allocated again