BUYING AND SELLING UNDEVELOPED
RESIDENTIAL PLOTS
Question.
There are
certain areas where the basic infrastructure such as roads, drainage, etc. have
not been developed but the development authorities have laid out plans on paper
for location of residential plots and are selling them. Is it permissible to
buy and sell these plots?
Answer.
Wa `alaykum
as-salamu wa rahmatullahi wa barakatuh.
In the Name of
Allah, Most Gracious, Most Merciful.
All praise and
thanks are due to Allah, and peace and blessings be upon His Messenger.
In principle, it is permissible to sell as
well as to buy plots of land that are developed or undeveloped. The same is
with buying shares.
Responding to the question, Dr. Monzer Kahf, a prominent economist
and counselor, states the following: Buying and Selling Undeveloped Residential
Plots
"Yes, it is permissible to sell/buy
plots of land that are not yet fully developed as long as the appropriate
authority designated their development plans and the plots become recognizable
(i.e., they can be defined and land-marked by a specialist) as in the case of
the question. It is also permissible to buy a share (certain percentage) of a
land that is not yet designated whereby the plots are not recognizable.
May Allah guide you to the straight path,
and guide you to that which pleases Him. Ameen.
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