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I had bought a house in hyderabad, India last October. The flat is under final stages of construction. How can I calculate the zakat on this flat?

Answered as per Hanafi Fiqh by ShariahBoard.org
I had bought a house in hyderabad, India last October. The flat is under final stages of construction. How can I calculate the zakat on this flat? Do I have to pay Zakat after it is occupied by tenants and I start getting rent, I mean on the rent amount or before it is occupied by the tenants on the purchase value of it.
There is no zakat on a house; if someone has other homes besides the residential home then even on those homes there is no zakat. However, if there is a stream of income generated from those homes and that income is collected over a period of time then a person would have to pay zakat.
Allah (Subhanahu Wa Ta’ala) Knows Best
Mufti Nawal-ur-Rahman

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