What is the zakat on an investment land purchased for 135,000 Saudi riyals in the month of Shawwal in the year 1430 AH, for which zakat has not been paid until now, and is it permissible to pay it in monthly installments?

Repentance is obligatory for delaying Zakat after it becomes due. Zakat becomes obligatory on land purchased with the intention of trade if its value reaches the nisab and a full year has passed over it. Its value must be estimated every year, and one-quarter of a tenth (2.5%) must be paid. It is not permissible to pay Zakat in installments unless it is impossible to pay it in full, in which case whatever is possible must be paid immediately. Zakat is a right that does not lapse with the passage of time. If it is established as a liability, it must be paid immediately for past years, according to one's ability.