Fatwa #1513130 April 2007United Arab Emirates

Do i pay Zakaat on the land which i purchased on installments?

Question

I have purchased a land as an investment but I am paying only 10 % of the amount now and remaining will be thru installments for ten years ,so do I need to pay zakat on this 10 % of amount.Pls note that this land is not an agriculture land , but for housing purposes and I have already a house for my living.

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

You do not have to pay zakat on the land or the soil amount.

And Allah knows best

Wassalam

Mufti Ebrahim Desai
Darul Iftaa

#7208my father owns land and he has not yet distributed among his children. He told us to pay zakat for our share of the land. There is no income from this land should i have to pay zakat on such land
#6875I made investment in scheme where it is locked for six-years which can only be released by end of six years. Do I have to pay Zakat on this investment before it is released to me.
#14631I go by the mid of Ramadhan as my year end for Zakat purposes. I bought a house on Islamic Finance. I have already paid 10% of the price as a booking deposit. I am expected to pay another 12% by end of December 2006.
#22903Do I pay Zakaat on the land I didn’t have intention to sell?
#33479I wish to understand how I need paying zakat on some scenarios
#2914How to calculate zakat on shares when it is in losses? How to calculate Zakat on plot of land?
#21487How to pay Zakaat on land?
#17062I have booked an apartment for 10% down payment, it will be constructed in 5 years approx and I will pay the remaining amount in installments till 5 years...

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