Now a days, more brothers have land for purpose of Build a house or investment for future savings,
So everyone should know about Zakaath on Land.

Source: http://ping.fm/XO7DR

Land, Its Intended Use & Escalation In Value
1. I have bought three plots of land: One to use for building a house for living, and one each for my two daughters. What is my Zakah liability?

Ans: The land you intend to build a family home on is exempt from Zakah. You do not have to pay any Zakah on its value, even though you may not start building the house for several years.
It may happen that someone buys a land to build a house, but his financial situation may not help to fulfill his intention for sometime. As long as his intention remains the same, the land is not Zakahable.

I am not clear on the position of the other two pieces of land. You say that they are for your two daughters, but you did not say for what purpose.

If they are intended as an investment, then they are liable to Zakah.

If you actually give them to your daughters now, stating even verbally that this land is for this girl and the other for her sister, and both are intended as investment, or savings, then each of your daughters is liable to pay their Zakah.

If you are the one holding the plots and you intend to give them to your daughters in due course, then you are the one who pays their Zakah. Each of the two pieces should be evaluated every year on the Zakah date of the person holding it and Zakah is paid accordingly.

The person incurring this must be a Zakah payer, which means that he or she has more than the threshold of Zakah, which is equivalent to 85 grams of gold. The Zakah rate on such a scheme is 2.5 percent.

If the lands are actually given now to your daughters and they are also intended to build houses on them for the owners, then they are not liable to Zakah.

2. About ten years ago I bought a plot of land on installments, intending to sell it later in order to buy one nearer my hometown, where I will be building a home. It took me several years to settle its price, and the land is now worth about three times its original price. What Zakah is due for such property?

Ans: We can look at this question in two ways. The first is that of a land bought for re-sale. In this case, it is commercial merchandise and it is liable to Zakah every year on the owner's Zakah date. It should be valued at the current price every year and Zakah should be paid at the rate of 2.5 percent. For the years when the price was still being paid, only the portion that has already been paid is Zakahable.

The other way is that of holding the property in waiting for a more suitable time to sell. In this case, Zakah is paid only when the land is sold, and Zakah is liable on the full price and must be paid immediately on receiving the price. No waiting for the Zakah date should be considered.

It is clear from the circumstances that the owner is not a land dealer. It is more likely that he is of the second type, which means that he should pay Zakah when he eventually sells the land. Suppose that its price at that time has increased five or ten times, Zakah is due for the full price at the rate of 2.5 percent.