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I have been paying 1/3 part of installments for a property for over a year. Is Zakat applicable on the amount I have paid in installments up until now?

The intention is to sell the property once the installments are finished and the money would be used for further investment on another property OR to build a house for living.

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Waleikum As Salam

If the intention is to sell the house for further investment then it is a form of business and you have to pay the zakah on the value of the house only after the completion of the 1 full year and not before it.

If the house is for personal use then there is no zakah on it.

For details please read this: https://islamqa.info/en/141551

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Zakat is for one's earnings. What ever you earn you have to pay 2.5% from that earning.

sorry if my answer doesn't suits your question. But if you earn you gotta give Zakat.

  • Zakat is on savings that remain in your possession for a year, not on earnings, unless that is agricultural income ... which is called Ushr and has a different rate. – UmH Jul 17 '17 at 8:16
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Walaykum Assalam

This page should let you learn more about Zakat in islam in detail

https://www.al-islam.org/a-summary-of-rulings-makarim-shirazi/rules-zakah

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