Answered by Shaykh Faraz Rabbani
Is there zakkat on a puchased piese of land (plot)
Assalamu alaikum wa rahmatullah,
There is no zakat on land or property acquired for personal ownership–even if one has in mind that one may sell it later. There is, however, zakat on land or property acquired with the specific intention of trading in it. (Ibn Abidin, Radd al-Muhtar)
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Jazakum Allah khayr.
And Allah alone gives success.