What is the term for the increase in property value resulting from the merging of two adjacent parcels of land?

The term that specifically describes the increase in property value resulting from the merging of two adjacent parcels of land is known as plottage. Plottage refers to the added value that is realized when two or more lots are combined into a single larger parcel. This phenomenon often occurs because the larger parcel can be utilized in ways that are more beneficial than the smaller separate lots—such as for development purposes or to accommodate larger structures.

In contrast, terms like assemblage refer to the process of combining the parcels, while consolidation may imply a more general merging or combining of resources or entities, not specifically tied to the value increase of land. Aggregation typically refers to the action of collecting or gathering items together, which does not necessarily convey the concept of increased value associated with land consolidation.