Is zakaat payable on property and rental income?

“1. In principle, zakat will only be wajib on land if it is bought with the intention of selling it. Therefore, zakat is not wajib on the land you bought. 2. It will be permissible to consider the zakat you paid for that land as an advance payment as long as:”

“From the outset, it is imperative to note that Zakaah is not paid on the value of the property, but rather it is paid on the rental income that the property generates, with the proviso that the property has not been purchased for resale purposes.”

“There is no Zakaah on goods, land, houses, or similar assets if they were not purchased with the definite intention of trade. Therefore, no Zakaah will be due on the property.”

“If you purchased the plot of land with the intention of resale, then you should pay 2.5 percent of its market value in zakaat. If you did not purchase it for resale purposes but you purchased it to develop it, then the land will not be regarded as zakaatable wealth and you will not have to pay zakaat on the land.”