The temple is situated at a distance of 14 Km from Rameshwaram. Devotees can board the Dhanushkodi bus at the entrance of Sri Ramanathaswamy temple in Rameshwaram and get down at the crossroads indicated in the picture below:
Legend has it that Vibeeshana, the brother of Ravana met Lord Rama and joined hands with him at this spot. There are paintings inside this temple depicting this story. In the temple, one can worship the idols of Rama, Sita and Lakshmana along with Vibeeshana and Hanuman.
More information on this temple can be found here.