The present investigation evaluates three satellite precipitation products (SPPs), Multi-Source Weighted-Ensemble Precipitation (MSWEP), Global Precipitation Climatology Centre (GPCC), Climate Hazard Infrared Precipitation with Station Data (CHIRPS), and two reanalysis datasets, namely, the ERA5 atmosphere reanalysis dataset (ERA5) and Indian Monsoon Data Assimilation and Analysis (IMDAA), against the good quality gridded reference dataset (1991-2022) developed by the India Meteorological Department (IMD). The evaluation was carried out in terms of the rainfall detection ability and estimation accuracy of the products using metrics such as the false alarm ratio (FAR), probability of detection (POD), misses, root mean square error (RMSE), and percent bias (PBIAS). Among all the rainfall products, ERA5 had the best ability to capture rainfall events with a higher POD, followed by MSWEP. Both MSWEP and ERA5 had PODs of 70-100% in more than 90% of the grids and less than 35% of missing rainfall events in the entire Tamil Nadu. In the case of the rainfall estimation accuracy evaluation, the MSWEP exhibited superior performance, with lower RMSEs and biases ranging from - 25 to 25% at the annual and seasonal scales. In northeast monsoon (NEM), CHIRPS demonstrated a comparable performance to that of MSWEP in terms of the RMSE and PBIAS. These findings will help product users select the best reliable rainfall dataset for improved research, diversified applications in various sectors, and policy-making decisions.