Is zakat obligatory on land purchased in installments with the intention of selling it after the installment period ends, and how is its zakat paid?

Zakat (definition) is obligatory on land purchased with the intention of sale. The zakat is calculated by evaluating the land annually at the completion of the hawl (one lunar year) from the day of its purchase. If its value reaches the nisab (definition) (minimum threshold) by itself, or by combining it with other money or trade goods, 2.5% of the value is to be given, after deducting the remaining installments of the land's price. This is the view of the majority of scholars who hold that debt exempts one from zakat, based on the saying of Uthman ibn Affan, may Allah be pleased with him. Trade goods are evaluated by the current banknotes, the nisab of which is equivalent to 85 grams of gold.