Mufti Online — Madrasah Ta'leemuddeen

Zakaat on a property purchased

· 16 Jumada II 1440 AH1 min readEnglish

Question

I purchased a house five years back using our company's house loan policy. After five years the company offered us to take the top-up on the loan based on the current market value of the house. Now with that top up money I purchased another plot.

My question is; do I need to pay zakaat on the land I had purchased? If yes then what is the method, should I take the current market value of the plot for calculating zakaat or should I take the amount I paid as an installment against the top up?

Answer

No.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/28668
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-28668

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