The Peripheral Ring Road (PRR) is the third Ring Road of Bangalore developed by the Bangalore Development Authority (BDA). The 73 km circular road will lead from Hosur Road and connect to Tumakaru Road and NICE Road to form a complete circle around the boundaries of Bangalore. After being on the drawing board for several years, the Peripheral Ring Road Project (PRR) has finally received a nod from the Karnataka government. The mega project would encircle the peripheral areas of Bangalore, the city best known for its IT/ITeS hubs and new-age businesses. Once through, the development will create new connectivity points and fillip the realty landscape in Bangalore by and large. Earlier, the farmers agitation delayed the construction as disputes relating to land acquisition reached the Courts. However, the authorities have now received a go-ahead from the Supreme Court. Global tenders were invited by BDA last year. An Israeli firm, Symba Maz, has expressed interest to invest in this project, the cost for which has now escalated to Rs 21,250 crore. The government has created a Special Purpose Vehicle (SPV) called the Bengaluru PRR Development Corporation Ltd for implementing this project. Formal tenders are expected to be invited soon to finalise a developer for this road. With the Cabinet approval in place, the project seems to be moving up from the drawing board to the implementation stage. Once constructed, this road project would significantly ease the high-traffic areas and have a strong effect on the real estate market in Bangalore.