A thick concrete wall can keep your house cool. Steel will make your house hot unless you insulated the walls well. Insulated walls don't work very well in a flood zone. When they get wet, you need to tear them apart. You will need concrete for the foundation most likely unless you are driving steel pylons. There is probably a combination of the two that will suit your needs best. It would be helpful to know what you want to achieve by using steel. There are advantages to both. Steel floors can be cantilevered further. It is easier to make bigger window openings. Floor and roof spans can be lighter and quicker to build with steel, but the roof will get hotter and therefore need good insulation and need to be well ventilated. These are just general assumptions of certain building practices so that you know what to ask people where you live. The practices and resources vary from place to place and building something for a specific purpose can change the benefits of one material or the other. My best guess is that you will probably want to use both.

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Suraj, If you have access to the room that you shared earlier you can try seeing the flicker effect at night time with both lights and fan being on. If the lamp has a 360 degree light spread it will cast the fans shadow on the ceiling and when the fan is turned on it causes a flikr effect. I personally find it a distraction and at the same time many would not even notice it. Take the pick based on your usage. Wall mounted fans and recessed fans can also be explored. Thanks, Nitin Cornerstone Designs, Bangalore.

Rajiv, You may need to specify the floor plan and requirements from each area. If you have opted for a false ceiling the design of that as well will help to answer. Thanks, Nitin Cornerstone Designs, Bangalore.