Salam. I have purchased some plot of lands in development. At the moment it's just a field. The company will turn it into an urban area then divide into plots of lands ready for to build on. At the moment they are not ready and not in possession yet. However it is possible to sell them now and transfer them to whomever buys them. I have some papers to prove that there are mine but physically I don't own them yet. Do I need to pay Zakat on them?

All perfect praise be to Allah, The Lord of the Worlds. I testify that there is none worthy of worship except Allah, and that Muhammad (ﷺ) is His Slave and Messenger.

As long as the purchase contract for these lands was concluded correctly, then they are considered your property, even if the official legal registration procedures have not yet been completed.

However, you did not mention your intention when purchasing the land. If you bought it with the intention of selling it, then it is considered trade merchandise, and zakāh is due on it when one lunar year has passed, calculated according to its market value at that time.

But if you did not intend to sell it, then no zakāh is due on it.

Allah Knows best.