Question On Zakaat
The investment in the plot is intended for residential purposes rather than commercial use; therefore, this amount is excluded from the Nisab for Zakat. Savings held in the bank are subject to Zakat. However, if these savings are earmarked for building a house and will be immediately utilized for this purpose, they are exempt from Zakat. Nonetheless, if he is able to pay Zakat, it is preferable to do so.