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Forums Forums Islamic Sharia Do We Have To Pay Zakat On Residential Plots Of Land?

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  • Do We Have To Pay Zakat On Residential Plots Of Land?

    Posted by Kausar Mehmood on March 12, 2022 at 12:22 pm

    Hi,

    If you have some savings and you buy a residential plot of land using the saved money. If the sole purpose of the plot is to just keep it as saving and sell it when needed, do you have to pay zakat on it? I am pretty sure it will count as savings as its not for personal use but I thought I will double check anyway.

    Thanks

    Umer replied 1 year, 11 months ago 3 Members · 5 Replies
  • 5 Replies
  • Do We Have To Pay Zakat On Residential Plots Of Land?

    Umer updated 1 year, 11 months ago 3 Members · 5 Replies
  • Faisal Haroon

    Moderator March 12, 2022 at 4:48 pm

    Yes, zakat is due on the current value of all your assets excluding those that are in personal use, as long as you’re above nisab. This also includes all real estate such as land, property, etc.

    • Kausar Mehmood

      Member March 13, 2022 at 3:35 pm

      Thanks Faisal Bhai.

      Does the same ruling apply to debt as well? For example if I have lent money to a friend.

      Do I need to pay zakat on that amount in the following 2 scenarios?

      1. I am expecting to get money back

      2. I don’t expect to get that money back because the friend’s situation is that he might not be able to return the amount

    • Faisal Haroon

      Moderator March 13, 2022 at 3:52 pm

      If you have lent money, the borrower pays zakat on it as long as zakat applies on him. You only pay zakat on the current value of your assets that are in your possession.

    • Kausar Mehmood

      Member March 13, 2022 at 3:53 pm

      Jazakallah Brother!

    • Umer

      Moderator March 14, 2022 at 7:11 am

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