Q: I have two residential plots. I intend to sell these plots and construct a house for my personal living. My query is that,do I have to calculate the market price of these plots for my annual Zakat calculations till I construct my house or merely the intention of using these plots for my personal house is a valid reason not to count the value of these plots
A: Zakat will be due on the market value of those plots on your Zakat day. What makes those plots a Zakatable asset is the fact your intention of reselling them was present at the time of the purchase.
And Allah knows best!
Mufti Billal Omarjee
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