Q: 3- Is `Zakah' payable on Bungalows/ Houses or Flats which are given on rent or which remain vacant. If payable, should it be on the original cost or on the market value?

A: Zakah will be paid only on the rent accrued from the properties owned. Zakah will not be paid for vacant property, unless if procured for resale purposes; more specifically, for the sale of such assets.

Contemporary fatawaa