Soak saffron strands in warm milk. Set aside while preparing the modak mixture.
Heat ghee in a heavy bottom kadhai or casserole.
Add semolina (rava) fry till it turns light brown in color. Continuously stir the semolina while frying. If left unattended it burns very fast.
Next, add crumbled khoya (mawa). Mix semolina and khoya using a spatula. Now keep frying the khoya till it becomes smooth and the fat starts oozing from the sides. That is stage 1 of perfect frying.
In low to medium flame, keep frying the khoya till all the fat disappears and the khoya starts coming together like a soft dough. This is in stage 2.
Now, add the green cardamom powder and saffron soaked milk. Mix nicely. Keep frying until all the milk is absorbed by the khoya and once again it becomes like a soft dough. This is the final stage. Turn off the heat.
Transfer the khoya mixture to a wide bowl. Allow to cool down for 5 - 10 minutes or till it becomes lukewarm to touch.
Add powdered sugar and mix with your fingers to form a smooth, soft, non-sticky dough.