I went to Eat Street almost 2months ago. The atmosphere there was pretty good. Initially we thought that it will be nice to have food here. But variety of vegetarian food was not good there as we unexpected. Initially we ate chocolate parantha that he took almost 20mins to prepare. But after the parantha arrived it was simply a paratha loaded with hersheys syrup. I was like I could make that parantha at my hostel itself. Than I tried momos there but they were also very average. I was still hungry than after that I decided to eat at burgerking present there as it was at its original prize at which they offer it. That was pretty nice.
So, after spending around 400 bucks I came hostel unsatisfied.
EDIT: Karaoke nights happens only on friday or saturday night I guess. So please, check once before visiting there.