When adjacent lots are consolidated into one larger lot with a higher value than the combined value of the separate lots, the increase in value is called

Anchoring refers to a cognitive bias in which people rely heavily on the first piece of information encountered when making decisions. In real estate, this could relate to pricing strategies or initial valuations, but it does not pertain to the combined valuation of adjacent lots. Hence, it is not relevant in describing the value increase from consolidation.

Assemblage is the process of combining multiple parcels of land into one larger parcel, but it does not specifically refer to the increase in value resulting from this action. While assemblage is a necessary step to achieve plottage, the term itself does not capture the resultant increase in value which is what plottage specifically addresses.

Consolidation refers to the act of combining properties into a single entity. However, like assemblage, it does not inherently convey the increase in value that results from this combination. Consolidation is more about the process than the financial outcome, making it an incorrect choice in this context.