Is Zakat obligatory on the amount paid as a down payment for the purchase of a plot of land for investment, and on the subsequent annual installments?

If the land is for investment, whether through agriculture or construction, Zakat (definition) is not obligatory on the land itself, but rather on its produce when its conditions are met. However, if it is prepared for sale, its value is assessed, and Zakat is paid on it after deducting any remaining installments upon the completion of a Hijri year, based on the view of the majority allowing the deduction of debt from internal assets.