What term best describes the process of combining multiple parcels of land to enhance their value?

The term that best describes the process of combining multiple parcels of land to enhance their value is known as plottage. This concept refers to the idea that when several smaller parcels are combined into one larger parcel, the resulting land often has a higher total value than the sum of the individual parcels. This increase in value can arise from various factors, such as more efficient land use, improved development opportunities, or enhanced appeal to potential buyers or developers.

Platting involves creating a map that divides land into lots, subdividing it for sale or development but does not specifically refer to the act of merging parcels for value increase. Subdivision is the process of dividing a larger parcel into smaller lots for sale or development, which is the opposite of combining parcels. Zoning refers to the municipal regulation that dictates how land can be used and does not involve the combination of parcels.

Understanding plottage is essential for real estate professionals, as recognizing opportunities for combining parcels can lead to significant financial benefits in property development and investment.