Purchasing of plot

Answered according to Hanafi Fiqh by
My question is that I have purchased a plot from a private company in Islamabad .They said that if you buy this plot in one time amount then its cost is 15 lakh but if you buy this plot in installments then its cost is 17 lakh. I want to know that if we buy this plot in installments then this purchasing is haram or halal. Does this installment have interest on it or not?

بسم الله الرحمن الرحيم

(Fatwa: 1023/1023/M=1434)

In the above mentioned case, if you buy the said plot in 17 lakh rupees in instalments then it is lawful for you and it is not interest. It is lawful to sell and purchase anything on less price in case of cash and on high price in case of debt (instalments) provided the condition of cash or debt is cleared and the dealing is done accordingly.
ألا يرى أنه يزاد فى الثمن لأجل الأجل الخ (هدايه)

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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