The magazine claimed that Nick shut down a Tiffany store in NY to choose the flawless bling for his gal.
For the record neither Jonas, 25, nor Chopra, 36, has commented as of yet.
A source close to Jonas said the singer is "very, very happy". "He's definitely very serious about her", said the insider.
He added, "Team Bharat wishes Priyanka Chopra loads of love and happiness for life". Fast forward a few months and pictures from Nick Jonas' yacht party during the Memorial Day weekend this year spoke the proverbial 1,000 words.
An insider previously told PEOPLE Jonas and Chopra stayed in touch after hitting it off past year but things really heated up between the pair when they introduced each other to their families. Their relationship took a serious turn after they met each other's families.
The couple reportedly met through mutual friend Graham Rogers, who is Chopra's "Quantico" co-star and previously worked with Jonas.
Priyanka Chopra and Nick Jonas seen on a night out at 34 restaurant in Mayfair on July 16, 2018 in London, England. Yes, in an interview with Elle, the actress had mentioned what her guy has to do to fetch the right ring for her. Jonas reportedly traveled to India to meet the star's mother last month. Nick even posted these pictures of Priyanka on his Instagram then - if you look at the captions, there's no indication that any sort of romance was brewing.