Network topology design problems find application in several real life scenarios. However, most designs in the past either optimize for a single criterion like delay or assume simplistic traffic models like Poisson. Such assumptions make the solutions inapplicable in the practical world.In this paper, we formulate and solve a multiobjective network topology design problem for a realistic Internet traffic model which is assumed to be self similar. We optimize for the average packet delivery delay and network layout cost to construct realistic network topologies. We present a multiobjective evolutionary algorithm (MOEA) to obtain the diverse near-optimal network topologies. For fair comparison, we design a multiobjective deterministic heuristic based on branch exchange -we call the heuristic Pareto Branch Exchange (PBE). We empirically show that the MOEA used performs well for real networks of various sizes, and generated topologies are quite different with significantly larger delays for the self similar traffic model.