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