Is Residency Road worth the premium for a 2BHK?

Seriously looking at buying a 2BHK near Residency Road, my lease ends soon. Prices there seem crazy high, like 1.5Cr for a 2BHK, even older ones. Is it actually worth it for daily living? I'm worried about noise and traffic. How's the real resident life? Also, what about investment? Will properties appreciate in 3-5 years? Any negotiation room on prices, or are they firm? Need honest experiences.