The residence you intended to sell has the same ruling as commercial commodities

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Q 2: I purchased a fenced plot of land for 190,000 riyals about three years ago. Half of this sum was the price of a car I bought for monthly installments from a company working in this field of business. The period of installments are four years, ending in the fourth month of 1419 A.H. by the leave of Allah (Glorified be He). The value of installment is 2,560 riyals per month. I then completed some units and facilities in the land to be a proper residence that I sometimes rent. Note that the process of completing the building was made by loans and most of this money has not been repaid. About two years ago, I decided to sell this place and repay my debts. However, I have not succeeded to sell it until now.My question: Is there any Zakah (obligatory charity) due on it? Please, clarify this point. How much is the amount of Zakah per year? May Allah reward you with the best! A 2: This residence that you intended to sell has the same ruling of commercial commodity from the time when you intended to sell it. Since you made up your mind to sell it two years ago, (Part No. 8; Page No. 108

A 2: This residence that you intended to sell has the same ruling of commercial commodity from the time when you intended to sell it. Since you made up your mind to sell it two years ago, (Part No. 8; Page No. 108) you should pay the Zakah due on it for the last two years. You should evaluate it after the passing of a Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) and pay the due Zakah according to its value at the time of evaluation. This process is repeated on a yearly basis and the value estimated should be added to the money that you have and you should pay 2.5% of the total sum as due Zakah to be given to the poor and the needy.May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.