Redeveloped area: settle in property (4,6)
I believe the answer is:
real estate
'property' is the definition.
(real estate is a kind of property)
'redeveloped area settle' is the wordplay.
'redeveloped' indicates an anagram.
'area'+'settle'='areasettle'
'areasettle' with letters rearranged gives 'REAL ESTATE'.
'in' acts as a link.
(Other definitions for real estate that I've seen before include "US-style spread?" , "Land in America" , "Property, land (esp. US)" , "properties" , "Landed property" .)