What is the term for the increase in value when two lots are combined and sold as one?

The term used to describe the increase in value resulting from the combination of two or more lots into a single parcel is plottage. When parcels are merged, the resulting property can often be sold for more than the sum of the individual lot values due to factors such as enhanced usability, improved marketability, or greater potential for development. This concept reflects how the whole can be worth more than the sum of its parts, capturing the economic benefits of consolidation in real estate.

In contrast, appreciation refers to the general increase in value of a property over time due to market conditions, while contribution describes the value added by an improvement to a property, and partition involves dividing a property into smaller pieces or separate interests.