Question Summary:
Zakat is not payable on the house as the house was not purchased to resell it

Question Detail:

I have bought a house a copule of years ago. I have currently given this house to my uncle to live in without any rent.
I may sell the land in soemtime later if i get good offer ...or may be i would seel it if have an option to reinvest ....or may be if I am in a need of money. May be I will ue it sometime ... but not sure.
Since i Have in my mind to sell it.....Do I need ot pay Zakat on this property.

Answer :

In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In principle, if at the time of buying the house, your intention was to sell the house, then Zakat of 2.5% of the market value of the house had to be paid. In the enquired situation, Zakat is not payable on the house as the house was not purchased to resell it. [1]
 
 
And Allah Ta’āla Knows Best
Asim Patel
Student Darul Iftaa
Venda, South Africa
Checked and Approved by,
Mufti Ebrahim Desai.
www.daruliftaa.net