I having a doubt. I am having two kids and two pets in our house. Is Engineered hardwood is best or not.

Best compared to what?

Painted concrete is pretty durable and low maintenance, so is polished granite tile.

Are the two pets goldfish, or are they goats? Something else, perhaps?

I have NON-engineered birch hardwood in my house that has been in service 96 years. it was sanded and refinished once, about 30 years ago, and still looks pretty good, having endured a cat, multiple kids, a pit bull / staffordshire terrier mix and a half dozen hamsters, and who knows what else. YMMV.

Water is the biggest enemy of hardwood. But with multiple coats of polyurethane it's pretty resilient against anything but a flood.

The big problem with pets and hardwood floors is generally staining.
Sufficient sealing will generally overcome this problem.

Another option would be bamboo, wear resistant and fairly stain resistant. Pick a strand flooring.

In either case, pick a flooring with a high hardness rating.

Dil, I thought bamboo was very soft?

It depends on the product.

Engineered bamboo flooring is sort of in the low-middle range of hardness compared to hardwoods, but still a bit harder than typical north American species of birch (but not Baltic birch) or maple. Strand bamboo flooring is at the harder end of the scale, but there are other mid-range goods as well.

Don't take this as gospel, but it's probably not far off:

http://www.bamboo-flooring-facts.com/images/janka_hardness_chart.jpg

Posted By robinnc on 16 Jan 2019 06:47 AM
Dil, I thought bamboo was very soft?

Bamboo generally falls between 1200-1600 on the Janka Hardness Scale.
Hit up Wikipedia for "Janka Hardness Test"

It's up in the same area as White Oak and White Ash.

The other consideration for Bamboo is that it's relatively pet-stain resistant.

Ipe, a MUCH harder wood can be discolored by pet urine fairly easily.  And, being much harder and denser, is a BEAST to get out (if they come out at all).

With bamboo, you simply pick up solids with a paper towel.  Lay paper towels over liquid messes, or at best blot (don't rub).

Then damp mop with water.

If you have a residual odor, mop with water and white vinegar.