If the college gets upgraded then your admission domain will be shifted to that college automatically, however if you do not get a newer college, then you would have to either stay in the same college or wait for an upgradation in the coming round of you choose too. If you leave this college where you have submitted your fee and have got an admission then you could face severe consequences. First your fee will not be returned, and secondly this action is direct breach of the security bond you had signed with the college, you will have to pay the penalty for that as well.