DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Very detailed questions about Zakah on Land

**stoneeZef** · 12-05-2011, 11:17 AM

Question B: You mentioned that zakat is paid on the entire amount which is absolutely correct.
If the land is zakatable, how do I arrive at the current market price?
Is this what I can sell it at or the original seller (Real Estate Company) can sell it at? This question needs to be rephrased, its a bit confusing.

As I mentioned here is where the rest of the points come:

Point C, Building being built, construction not finished, No money exchanged.

Point D, Construction finished and 50% of the building goes to the contract Builder, and you posess 50%

During,
Point C, Building being built, construction not finished, No money exchanged.

Actually you are the owner of the 'whole' plot. (I have a small experience in Real estate hence I am familiar with such contracts)
Usually The 'Agreement of Contract' that YOU and the BUILDER will be signing will be that,
AFTER the construction 50% of the apartments will be 'registered' officially in YOUR name, and rest 50% in the BUILDERS name.

In India, the 'registration' is when the actual 'OWNERSHIP' is being established. I have posted Shariah terms of possession in the first page. Its similar ie the key is exchanged etc.

So at Point C: you have 100% ownership
At point D: You have 50% ownership.

I hope the part of 'possession' is clear till now.

Note: This is only my discussion/exploration of the matter - please do not act upon it without consulting scholars.

12-05-2011, 11:17 AM	#15
stoneeZef Join Date Oct 2005 Posts 478 Senior Member	Question B: You mentioned that zakat is paid on the entire amount which is absolutely correct. If the land is zakatable, how do I arrive at the current market price? Is this what I can sell it at or the original seller (Real Estate Company) can sell it at? This question needs to be rephrased, its a bit confusing. As I mentioned here is where the rest of the points come: Point C, Building being built, construction not finished, No money exchanged. Point D, Construction finished and 50% of the building goes to the contract Builder, and you posess 50% During, Point C, Building being built, construction not finished, No money exchanged. Actually you are the owner of the 'whole' plot. (I have a small experience in Real estate hence I am familiar with such contracts) Usually The 'Agreement of Contract' that YOU and the BUILDER will be signing will be that, AFTER the construction 50% of the apartments will be 'registered' officially in YOUR name, and rest 50% in the BUILDERS name. In India, the 'registration' is when the actual 'OWNERSHIP' is being established. I have posted Shariah terms of possession in the first page. Its similar ie the key is exchanged etc. So at Point C: you have 100% ownership At point D: You have 50% ownership. I hope the part of 'possession' is clear till now. Note: This is only my discussion/exploration of the matter - please do not act upon it without consulting scholars.
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