بسم الله الرحمن الرحيم
(Fatwa: 748/694/SD=7/1438)
In the question mentioned above, if you have not bought the said land with the intention of selling rather you have bought it for your son and daughter then no zakah is fardh on it.
Allah knows Best!
Darul Ifta,
Darul Uloom Deoband
