Wash and soak the rice for about 1-2 hrs. Soak the saffron threads in ½ cup milk.
Drain the soaked rice and add to blender along with the saffron infused milk. Blend until smooth paste is formed. Keep aside.
Heat ghee in a pan/pot, add milk, sugar, and mix with a spatula until sugar dissolves completely.
Add thandai masala and mix it well.
Stir the milk continuously with a spatula as it boils on medium flame, scraping the edges to prevent it from sticking or burning.
Put the flame on simmer. Stir continuously as you gradually add the blended rice mixture into the milk to prevent lumps.
Stir the milk mixture until it becomes thick and reduces to half. The mixture should be slightly thicker than kheer. It will be thicker once completely cooled.
Pour the mixture into the serving size clay pots or into the cups and store the cups in the refrigerator for about 3-4 hours.
Serve chilled and garnished with slivered almonds, pistachios, and rose petals.