How does plottage differ from assemblage?

Plottage refers to the increase in value that results from combining two or more adjacent parcels of land into a single larger parcel. This increase in value typically occurs because the combined land can be utilized more effectively than the separate parcels could. For example, a larger parcel may be more suitable for a development project, which can lead to a higher potential for income or higher market value.

Assemblage, on the other hand, is the process of combining those parcels. While assemblage describes the act of bringing together multiple parcels, plottage specifically focuses on the resulting increase in value. Therefore, understanding this distinction clarifies that plottage is directly related to the benefits derived from assemblage in terms of value enhancement.

The other options present misunderstandings or misrepresentations of these concepts. For instance, suggesting that plottage reduces land value misinterprets the fundamental principle that value can be enhanced through effective land use. Additionally, while measuring plottage by area versus measuring assemblage by value would be a misunderstanding of their relationship, both concepts are generally evaluated in terms of value implications. Finally, asserting that plottage is only applicable to residential land neglects its relevance to various types of real estate, as plottage can apply to commercial or industrial land as well.