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
A public area, or plaza with a series of walkways permitting pedestrians easy access to shops, stores and restaurants. Modern malls are often enclosed enabling all weather access. Malls are ...
In land surveying, the point al which two properties intersect constituting a boundary line between the properties. A corner can be determined by either a survey or general agreement ...
Those parts of a condominium that are owned by all the unit owners. ...
A passive house is a construction that has limited to zero carbon footprint. These kinds of houses have been developed as an answer for the necessity to lower pollution for the benefit of ...
The right to demand that title be conveyed upon payment of the purchase price. ...
Right to select something or perform some act. An example is a renter of property that is given the option to buy the home at the end of the rental period or to renew the lease. Not ...
Covering on the top exterior of a window. ...
Group of investors pooling their money to purchase real estate. ...
Real property located in an excellent area for its designated objective. An example is a restaurant situated near office buildings, on the main boulevard, so it is easy to see, and has ...
Have a question or comment?
We're here to help.