Believe it or not, I thought of it too when I was sketching the elevation design. Initially I did think of lowering terrace a little but when you get into the technical part of things, that's where it gets messy. The pillars, the amount of steel used for load bearings, the direction, height adjacent to the rest of the floor etc, do come in the way. Baaki ab jo hogya hai usay bhugtain ge, aur kya? LOL
Thanks for the sub, I'll keep you posted as much as I can with more info and less junk. 
Thanks! I love sharing knowledge, trust me sometimes during this (knowledge sharing process) you get to learn something you didnt know before. Sometimes an idea or an extremely valuable input that will make a huge difference in your project can come from a layman who has no experience too. This is what I love about the forums. I respect everyone's input and am always waiting to hear from people like you and me.
One thing I HATE is trying to show off or be like the Mr-Know-it-All, can't stand those folks.
Just pray my project meets it's end with success. 