This question can be answered thus: even though IIIT Allahabad is an esteemed institute in the top 100 list of the NIRF Engineering colleges rankings, and with a placement rate of above 95%; its shortcoming is its location. Yes! The institute is located in a rural landscape with no good i.e. popular restaurants nearby. Here are the particulars:
Not only this, there are good theatres like the PVR cinemas at Vinayak City Centre. If you're fine with a desi-eating experience, then Malik's Dhaba should be your place to eat delicious parathas near the college. Also, 16 Kms away from the Yamuna Bridge is the Baba Ka Dhaba, structured in the highway Dhaba style, and if not that, then a forest-themed restaurant known as Friends Forever is the closest to IIIT Allahabad, just 300 meters away. You can check online and see reviews to further your research.