There is rustic and there is too rustic. Of course everything looks good with an expensive digital slr camera which is what I think you are relying on as inspiration. Things will look dreary if not embellished in real life. I would recommend to do a small portion of the ceiling as false ceiling to hang the exclusive industrial light fixtures from. A rustic ceiling will work if it a semi outdoor space.

Thank you. Point noted. I will remember that while we choose our decor so that i mix and match a little to break the monotony of the theme.

I forgot to mention- there is one other reason why we settled for the no-false ceiling decision. I love the height of the ceiling and the ample natural light in the room. We did not want to cut off few inches by adding a false ceiling. We might add a portion of wooden ceiling perhaps if we feel that might be good, in future. But as of now is there no other option to make the room look complete, without the false ceiling I mean? Perhaps solid or textured paints-light reflecting colors on the ceiling or something like that...

and getting back to the topic of false ceiling, are there options that can be added without reducing the height of the room? Because the two options that the designers gave me are wooden panels or POP wherein close to 1/2 feet is lost totally.

Sorry for the late reply. You gathered the mix and match element correct. You could add faux timber joists for that homely touch or mix it up with solid timber or plywood panels in adjacent spaces to retain the height, the airy feel without loosing much of the rustic/eclectic character. Some examples from the net. You can also check the Haggerston apartments done by us in London which have concrete ceilings and exposed cinder blocks. Good luck

Those are some great ideas- thanks again!