Plottage In Real Estate
The definition of plottage in real estate is simple. When you combine multiple pieces of land into one large parcel, the plot appreciates in value. This is not to be confused with the process of combining multiple plots of land into a single larger plot, which is known as assemblage in real estate.
Plottage in real estate is very common in urban areas that have large areas areas covered with small, undeveloped, individually owned parcels of land. Firms will buy up large quantities of these individually owned plots and combine them into large plots perfect for the development of condominium complexes or other types of real estate developments. This is what plottage in real estate development means.
Examples of plottage in real estate
Plottage in real estate can occur in a variety of different scenarios. As previously shown, plottage is most common where there are large areas of undeveloped land in close proximity to urban population centers, but it occurs under other scenarios as well.
Another common instance of plottage in real estate is that of suburban areas transitioning into larger commercial holdings. Firms buy up plots of land in suburban areas to make way for the growth of cities in order to construct larger commercial complexes, such as shopping malls or office spaces.
An additional example of plottage in real estate often occurs with the expansion of agricultural firms, where expanding farming operations require more land on which to grow crops or livestock. Expanding farming operations will buy up plots of land surrounding theirs and construct the necessary structures and install the necessary machinery for their agricultural operations.
These are just a few of the many examples of plottage in real estate. Plottage is very common in quickly developing cities and other fast-growing areas of the country, and its occurrence and effects can be observed throughout the entire country.
Popular Real Estate Terms
Provision at the end of a document, such as a will, wherein the witnesses sign that the instrument has been executed before them. This may be useful involving transfers of real estate. ...
An idiomatic expression indicating the desire of an individual to understand new surroundings and all of its nuances including its quality and character. The derivation of the expression ...
Also called biannual; twice a year. An example is when lease payments are due January 1 and July 1. ...
Generation X, also known as Gen X , is the generational extract of Americans that are sandwiched between the Baby Boomer Generation and the Millennial generation (also called ...
In a mortgage, a provision that allows part of the security to be released from any further lien obligations upon the borrower's making a given payment. For example, a person may get a ...
Method of eliminating the spaces between the solid fragments in fresh cement or mortar during the mixing process. This is done by a combination of constantly mixing, turning, centrifuging, ...
Same as term soil porosity: Extent to which soil has cavities or pores, thereby allowing water to pass through. ...
Also called triple net lease. The lessee pays not only a fixed rental charge but also expenses on the tented property, including maintenance. ...
Multiple Listing is the kind of Listing that is registered by a broker or a real estate agent at the Multiple Listing System (MLS). If a house is directly sold by an owner – the ...
Have a question or comment?
We're here to help.