[stoneeZef]

Salaam Sidi, Jazak Allah Khair for taking time out for your post.

Sorry maybe the way I wrote it led to some misunderstanding. For this question (Q2), I AM the buyer. So I am paying in instalments to the owner (who are a Real Estate Company). I won't be in possession of the land until I pay all instalments (which is several years down the line). I can't sell it during this period nor realise any profit.



In other words, you will be paying Zakat either on the land or property (if the deal is complete) or on the instalments given (if the land or property has not as yet come into your ownership).

Oh okay. I kinda misunderstood it. So its the other way around, you are the Buyer.
the explanation you posted makes sense. So one would be paying Zakat on way or the other.

The reason I say this:

There is no zakat on one's property holdings themselves, even if they are for commercial purposes, such as renting and leasing. There is, however, zakat on money made from such activity, subject to the normal considerations of zakatable wealth. Ref: http://qa.sunnipath.com/issue_view.a...ID=1514&CATE=5

So when property is not considered as trading merchandise, but as property holdings it self, only the rent is Zakatable.
When you ask the Mufti also ask him when is land property considered as 'trading merchandise'. Because people in the Real estate bussiness buy property just sell them after some time. But since the 'merchandise' is complex, the time in between purchase and selling will be actually years.


for the clarifications. Please do post more. And also after you clear the doubt with the Mufti Saheb.