I am not sure... but we need to confirm from Mufti that buying a land/plot for investment purpose (in a sense that after few years price of the land/plot will be doubled and then sell), is it halal (or haram)?? Because from my point of view, it is zakhira-andozi. But buying land/plot with a intention that I will build home for my own living or doing business (such as build home and give on rent) etc are not zakhira-andozi. Every body knows that when prople do zakhira-andosi of rice, wheat, sugar etc. the prices in the market go up. Same case with plots, when many people buy plots in a scheme for investment purpose, the availability of the plots reduces and prices go up (due to zakhira-andozi by the people). I am not sure it is a valid assessment... we need to confirm from Mufti.
Tahir replied on Tuesday, August 28, 2012 06:13 AM
Why you are make islam no comlicated, stop asking foolish questions. |
A responder replied on Tuesday, August 28, 2012 06:40 AM
In Old time this Property Business was Not very Popular as Possbily Land was mostly free or Cheap In old Islam Time Comodities used to be be
Camel
Goats
gardens
Slaves Bandis Etc
People Used to Hoard these things for asset making.
About Multiple Wives You might be surprised but it was also Considered an asset in Old Time. Later it was Limited to 4.
This is best my Knowlege God Knows Better. |
Another responder replied on Tuesday, August 28, 2012 08:19 AM
Hoarding is a social evil. People might call it investment but it is all about restricting supply whereas the demand remains the same resulting in a price hike. Whether you are hoarding daily use commodities, food items or anything else just to make profits in the short term, it is a dis-service to society at large.
Dear Tahir, there are no foolish questions, only foolish replies which you have amply demonstrated. This is an open forum and everyone has the right to ask a question. If someone does not have an appropriate answer, it is better to keep quiet rather than making a fool of oneself. |
Another responder replied on Tuesday, August 28, 2012 08:22 AM
Hoarding is a social evil. People might call it investment but it is all about restricting supply whereas the demand remains the same resulting in a price hike. Whether you are hoarding daily use commodities, food items or anything else just to make profits in the short term, it is a dis-service to society at large.
Dear Tahir, there are no foolish questions, only foolish replies which you have amply demonstrated. This is an open forum and everyone has the right to ask a question. If someone does not have an appropriate answer, it is better to keep quiet rather than making a fool of oneself. |
Lahore Dubao Authority replied on Tuesday, August 28, 2012 01:12 PM
Don't be ridiculous. Buying a few plots is never zakhira andozi. Now if some one bought several dozens of plots and refuse to sell even then it cannot be compared to rice or wheat because these things are essential needs and people must have them on a constant basis. Plots are not like that. |
Ali S. replied on Tuesday, August 28, 2012 02:28 PM
land gold are hard assets that typically preserve purchasing power because gov't around the world are printing money to dilute our savings and tax us indirectly. since 2000 prices in canada went 2.5 times and in pakistan they went almost 5 times but if you notice our rupee is almost half value so its really 2.5 times gain in Pakistan too. Two different countries yet almost similar price impact tells us that our price growth is not out of norm and this means unusual hoarding is not taking place. |
Salman replied on Wednesday, August 29, 2012 03:52 AM
In any economy which is booming.... real estate gives the lowest return... But when economy is down then real estate is most secure option
I would narrate one incident of Hazrat Ali
One man came to Hazrat Ali and wanted to sell his horse. Hazrat Ali offered him around 40 dinars and promised to pay in evening. That man left the horse with Hazrat Ali.
After some time, another person came and liked the horse and inquired if it was for sale. Hazrat Ali demanded 80 dinars for the same horse. The person agreed, paid money and took the horse.
In the evening, first man came and took his 40 dinars.
Prices always follow demand, supply and perceived value factors. |
Haroon replied on Thursday, August 30, 2012 03:49 PM
Nadeem Sb,
First of all its Halal janab. In ref. to your statement "Zakira Andoozi" PLSE NOTE WHAT HAPPENED WITH THE BUYERS OF DHA FILES COUPLE OF YEARS BACK. So its not like everyone is making money all the time people are loosing too, this is but business. Long story short, any business which has the probability of profit and loss is Halal.
Good luck and best wishes to all business community!
Sincerely, |
