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Do I need to pay zakah on the two flats I own, one in my name and one in my wife’s name?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
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

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

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