Which term refers to an increase in overall value resulting from the assembly of multiple plots?

The term "plottage" specifically refers to the increase in overall value that occurs when multiple adjacent plots of land are combined or assembled into a single larger parcel. This concept is primarily based on the idea that the total value of the assembled parcels is greater than the sum of their individual values due to factors such as improved utility and potential for development, increased marketability, and better overall land use.

When multiple smaller lots are combined, they can often be used more efficiently and effectively for larger projects, leading to economies of scale. This increase in value resulting from the assembly is why "plottage" is an essential term in real estate, particularly when considering investment opportunities and land development.

Other terms presented do not accurately encapsulate the specific phenomenon of increased value through assembly. For example, "profit" generally refers to the financial gain realized after selling an asset for more than its purchase price; "enhancement" is a broader term that may refer to improvements but lacks the specific context of land assembly; and "development" broadly covers the process of improving land but does not specifically indicate the increase in value attributed to combining plots. Thus, "plottage" is the most precise term in this context.