četvrt

1. quarter; one fourth
   Stižem za četvrt sata. — I'll be there in a quarter of an hour.
   Sastanak počinje u pet i četvrt. — The meeting starts at a quarter past five.
2. (of a city) quarter; district; neighbourhood
   Živimo u mirnoj stambenoj četvrti. — We live in a quiet residential neighbourhood.
   Skadarlija je boemska četvrt Beograda. — Skadarlija is Belgrade's bohemian quarter.

For time: "pet i četvrt" is a quarter past five, "četvrt do pet" is a quarter to five.