Zakah on residential flats

Answered according to Hanafi Fiqh by
I have a flat in which my mother and an unmarried sister lives. This is in my name. I have bought another flat for the purpose of living in it and I have bought it in my wife’s name. We are still to be handed over the second house. Do I have to pay zakah on these flats?

بسم الله الرحمن الرحيم

(Fatwa: 764/663/D=10/1437)

No zakah is wajib on the said two flats. Zakah is wajib on things which is bought with the intention of business to earn profit. In such a case it becomes business item hence zakah becomes wajib on it. Both of your flats have been bought with intention to live; hence no zakah shall be wajib on their value. 

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband