The present study was carried out in rice with a view to know the extent of heterosis, heterobeltiosis and standard heterosis for grain yield per plant and six rice grain quality traits viz., hulling percentage, milling percentage, head rice recovery percentage, kernel length, kernel breadth, kernel length/breadth ratio in rice. Twelve high yielding rice genotypes viz., ADT 39, ADT 42, ADT 43, ADT (R) 45, ADT (R) 46, ADT (R) 47, TNAU Rice ADT 49, CO 47, ASD 16, TKM 11, TKM 12 and TRY 2 were crossed to five testers viz., Pusa 1460, Imp. Samba Mahsuri, Ajaya, IRBB 60 and IRBB 21 in a line x tester analysis to generate 60 hybrids. Significant heterosis over mid parent, better parent and standard parent in desired direction was observed in many crosses for various traits under study. The higher magnitude of heterosis for the grain yield per plant and quality traits were not expressed in a single cross. It varied from cross to cross due to diverse genetic background of their parents. Computing standard heterosis based on best cultivar for commercial exploitation of hybrid vigour is a primary need. Among the top ranking hybrids , the hybrids ADT (R) 46/Pusa 1460 (145.21 per cent) for grain yield per plant, CO 47/Imp. Samba Mahsuri for hulling percentage (16.87 per cent) and milling percentage (33.79 per cent), ASD 16/Ajaya (18.90 per cent) for head rice recovery percentage, TRY 2/Pusa 1460 for kernel length (28.25 per cent), revealed highest standard heterotic value and need to be further tested in multi-location trials to exploit their heterotic potential.