Is zakat obligatory on land designated for sale, which was purchased with the intention of building upon it, and its full value has not yet been paid? And is it permissible to pay zakat in installments if the full amount is not available?

Scholars differed regarding the zakat (definition) on land purchased for personal use (qinyah) and then offered for sale. The majority are of the opinion that it is not subject to zakat until it is sold and a hawl (lunar year) passes on its price. Others held that it becomes an article of trade (tijarah) immediately upon the intention to sell it, and its zakat hawl begins from the date of this intention. It is permissible to delay paying the zakat due to inability to pay it or to pay it in installments.