Heat a wok adding ghee. Roast cashews and raisins one after other and transfer them to a plate.Next add rava and roast it for 2 to 3 minutes till it warms up. Do not over-roast and do not let it change it's color. Switch off the flame.
Take fresh coconut along with 1 cup of water and cardamom in a mixer jar and grind it to fine paste. Strain this paste using a fine strainer and squeeze the coconut mixture so that milk is strained completely. It gives you 3/4 cup to 1 cup of thick coconut milk.
Again put back the squeezed coconut in to mixer jar with a cup of water and grind again for few minutes. Strain it back using same strainer that gives you 2 cup of thin coconut milk(second extract). Keep both extracts separate.
Next include second extract coconut milk to the roasted rava and mix well so that no lumps are not formed. Continue heating this mixture till the rava gets cooked which will take less than 5 minutes. Then include powdered jaggery and keep stirring.
When the jaggery gets completely dissolved and rava payasam starts boiling, include the first extract coconut milk. Bring it to boil and switch off the flame.
Garnish rava payasam with roasted cashews, raisins and chopped almonds. Drool-worthy rava payasam is ready to offer on the festival day.