Fatwaa ID: 552
Is it allowed to buy a plot of land for investment in Pakistan without possession of land as it works out cheaper and can sell (on paper) with profit within a year.
Although they are registered in Pakistan and approved with capital development authority and UK registered hence with peace of mind, but I heard it is not allowed to buy or sell anything without possession.
In Pakistan it is a common practice for investors of land.
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.
In principle, it is not permissible to sell something prior to assuming possession of it. In the enquired situation, the details of the investment scheme is not quite clear. If you are able to have someone assume possession of the plot on your behalf, you may do that and the transaction will be complete in that case and you may then sell it. If no one assumes possession of the plot on your behalf or the investment is merely on paper, then such a transaction will be incomplete and you may not sell the plot of land.
And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
07/17/1444 AH – 02/08/2023 CE | AMG3-3314
وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين
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