Q: I have query on zakaat for land plots. I live overseas. I don’t own any home in my home country nor overseas. I have a total 9 plots in my home country as per below. Currently, I do not have any intention to sell these plots, unless until in future if I need cash/funds for my kids (a son and a daughter) higher education, marriage, home construction or any emergency. Kindly advise if zakaat is payable on any of these plots (and what percent is payable).
Plot #1 & 2: These are two residential plots. We plan that whenever we go back to our home country, we will construct our home on these two plots.
Plot #3: I have intention to build a home on this and gift it to my daughter on her marriage.
Plot #4 & 5: If I have finance available in future, I will construct homes and will put these for rental income (my retirement income plan). Or if my sister wants to live in one of them, she can take one.
Plot #6 & 7: There are two options in my mind:
(a) To buy land (and construct a home) near my parents in law home (this area is expensive). So I may sell these two plots (6&7) in order to purchase a new land near my parents in law place. If I go for this option, I will not construct a home on the above said plot 1&2. However, possibility of this option (a) is low, as it requires a lot more financing.
(b) If I have finance available in future, I will construct homes and will put these properties for rental income (my retirement income plan).
Plot #8 & 9: A residential and a commercial plot. It is currently new city development in progress and it is expected to be future business hub in next 1 or 2 decades. So in case, if I or my son in future need to move/live in this new city (for job/business purposes), so we can use these plots for ourselves living/business.