What do the esteemed Islamic scholars say regarding the following matter that a friend of mine named Hamid purchased a piece of land from Zaid for 75,000 rupees. At the time of purchase, Hamid agreed to a condition that Zaid (the seller) must not demand to repurchase the land. Furthermore, he added that if Zaid or any of his relatives wished to repurchase the land or tried to exercise the right of pre-emption (ḥaqq al-shuf‘ah), then the selling price would be 175,000 rupees.
Now the issue is that, after a few years, Zaid (the original seller) wants to repurchase the land from Hamid. However, Hamid is not willing to sell it for less than 175,000 rupees, based on the condition he had set earlier. On the other hand, Zaid insists that since he originally sold the land for 75,000 rupees, it should now be resold to him for the same amount.
The question is: In light of Islamic law, is it permissible for Hamid to demand 175,000 rupees based on the condition he had agreed upon at the time of purchase?
In the mentioned case, the condition stated holds no legal value. Rather, Hamid is independent in selling his land at a higher or lower price. He may sell it for whatever amount he wishes."
كما في الفتاوى الھندية:ومن اشترى شيئا وأغلى في ثمنه فباعه مرابحة على ذلك جاز (3/ 161)۔