aoa, I have a question about paying Zakat on a plot. I own a house and pay yearly zakat on my wealth. I also purchased an additional plot worth Rs. 13 lac, with following intention: 1. I will sell it if I need money, for any important matter, in future. 2. or, I will sell it & buy a bigger plot, for my children’s living, when I have enough money. Do I have to pay zakat on this plot price?
Answer
(Fatwa: 1885/1482/D=1430)
If a plot is purchased with the intention of business, one will have to pay its zakah as per its existing value. In both the cases, there is no Zakah on the price of the plot.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband