Having a false ceiling for living/ dining space at about 1 ft drop is a recommended option. False ceiling gives the space a neat & rich look by hiding wires and other non-aesthetic projections. You could create various designs with the same but ensure it’s not a dust collector. Gypsum boards are a reasonably good choice, other false ceiling material options being POP, PVC, Grid ceiling etc.
Avoid false ceiling in bedrooms as it could make it look cramped and is suggested only if the roof is exposed to direct sunlight. False ceilings are also to be avoided in bathrooms & kitchen.
Choose a good fabricator and designer wherever required.