1. It all depends on what has been mentioned in the revised agreement as regard your delay in making payment, rate of interest to be chareged on delayed payment, cancellation of agreement on account of non-receipt of payment on time, arbitration clause etc.,
2. If there is interest clause mentioned in the agreement for the delayed payment, then the builedr can not arbitrarily cancel the agreement,
3. In case he illegally cancels the agreement, lodge a complaint case before the local District Consumer Dispute Redressa Forum alleging deficiency in service and unfair business practice claiming immediate possession & registration of the agreed prioperty, damage & cost.