Will Zakaat be payable on such property?

If a person keeps a residential plot with no defined intention whether it could be used for living in future by himself/family or whether to be sold at a good price if need arises; will zakaat be payable on such property?

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh

If a person purchased a land with no defined intention, it is not considered as stock in trade. Zakaat is not payable on such property.[1]

And Allah Ta’āla Knows Best

Ismail Desai,

Darul Iftaa

Checked and Approved,

Mufti Ebrahim Desai.