Monday, May 27, 2024
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Land investment for future

Fatwaa ID: 1006

Question:
AssalamOalaikum

If someone invests in real estate land for future, and the intention years down the road was either to build and live and/or sell if there is good offer or alternate available. Does this investment falls in zakat?

Answer:
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

Land purchased for future investments such as for building and living on or for selling in the event of a good offer is not subject to annual zakaah.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
https://askthemufti.us/

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين

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