Among the rice varieties, Purple Rice has an incredibly rich history and counts among its strains one variety known as Imperial rice as they are reserved for the Emperor’s consumption only. The purple color is due to high anthocyanin content, a trait most typically observed in fruits. There are abundant benefits including medicinal properties of rice. Its medicinal properties being imparted by the phytochemicals present in it, some of the important compounds which are worth mentioning are tocotrienols, gamma amino butyric acid, oryzanol, rice bran saccharide, Lutein, Zeaxanthin, butylate hydroanisole, phytosterol. Chakhao, the aromatic black glutinous rice in Manipur, India has an aesthetic value and nutraceutical properties. There is a huge demand in the domestic market, having possibilities for export, thus, it is a need for the improvement of these cultivars for higher production, productivity without losing grain quality characteristics, and its applications in pharmaceutical sciences. In this review, we focus on the nutritional values of rice with nutritional properties and their impact on human health.