Is that legal? Can we possibly contest it?
Yes, it is legal. You signed it.
What do you want to contest?
It would have been wise to have the contract reviewed. _Before_ signing. It also often goes faster if the foundation slab is built or ordered through the house builder company.
But now it is as it is. Take care of the foundation slab and inform yourselves about further steps before something arises or is artificially delayed.
Read the contract again before other problems occur.
Unfortunately, I have the feeling that you somehow want to get out of the whole house-building thing – for whatever reason.