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Guaranteed Rental From Builders
Dear sir, I m confused about the status of guaranteed rental fixed percentage for a certain period upon booking of apartment. Is it sort of Riba?. The apartment is not ready for possession and it will b delivered after 30 months. For this waiting period developer offers a fixed rent upon full amount paid.
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1 Reply
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Guaranteed Rental From Builders
updated 12 months ago
2 Members
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Riba is only in on the loan money when an additional amount is demanded or paid on it. What you shared is supposed to be a property purchased and rent is being paid on it, which is halal.
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