Fatwa #368746 November 2016India
Is my land and property liable for Zakat?
Question
i bought a piece of land with intention that after 2-3 years i will sell it. Do i need to pay zakat every year on that land or only that year land has been sold? Also i bought a house with same purpose. so what is the ruling on that too.
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
Kindly clarify what your intention was at the time of buying the house and land. Did you plan to wait for the value to rise? Or did you intend to use it for personal needs and then your intention changed?
And Allah Ta’āla Knows Best
Ridhwan Ur Rahman
Student Darul Iftaa
Cardiff, Wales, UK
Checked and Approved by,
Mufti Ebrahim Desai.