First, take 300 grams of paneer, cut into large cubes, and marinate them with ½ tsp of Kashmiri red chili powder, 1/3 tsp of turmeric powder, and ½ tsp salt.
Put in 4 tbsp of cooking oil in a pressure cooker and put in the coated paneer cubes in it when hot. Flip and fry them for a minute on a medium flame. Remove when done and keep aside.
In the remaining oil in the pressure cooker, add put in 2 pieces of whole bay leaves, 1 piece of black cardamom (pod split), 1 piece of cinnamon (half inch stick), and ½ tsp of cumin seeds (jeera). Fry them for half a minute or so.
Now, add a cup or 2 medium sized onions, finely chopped, to it and sauté until light brown. Then add, ½ tsp of sugar (optional) to caramelize the onions.
Now, add and fry 1 tbsp of ginger garlic paste until the raw smell is gone.
Turn the flame to low and add ½ tsp of turmeric powder and 1 tsp of Kashmiri red chili powder. After mixing them nicely, ¾ cup of tomato paste and mix well.
Now, add 1 tsp of coriander powder, ½ tsp of cumin powder, and ½ tsp of garam masala powder to it and mix them nicely.
Add 3 tbsp of whisked curd to it and mix well. Cover the pressure cooker without the whistle and let it cook on a low flame for 2 minutes.
Now, add 1 cup of green peas (fresh or frozen), and mix well. Cover and cook for a minute or so.
Now, add a cup of water to it along with the fried paneer pieces and salt to taste. Mix nicely. Put the lid of the pressure cooker, with the whistle this time, and cook up to 2 whistles.
Now, switch off the flame, let the pressure release, and check the consistency. Cook without the cover for a couple of minutes more if it is not thick enough. Then, add ¼ cup of finely chopped coriander leaves or crushed Kasuri Methi and give it a nice final stir. Cover the lid and let it stand for about a minute for the thickness of the gravy to set properly. Transfer it to a serving tray.
Your tasty and spicy homemade matar paneer is now ready to enjoy. Serve it hot along with rice or roti.