In a bowl mix all the flours and spices together. Use 1 tbsp of chaat masala, keep the rest 1 tbsp for later use.
Add water to the flour mix. Add water slowly mixing, take care no lumps are formed.
About half cup of water is used for making batter. Use as required.
Add peanuts, mix nicely and coat with batter.
Frying Peanuts
Heat oil in pan/kadhai on medium flame. Drop 1-2 peanuts, when it sizzles and comes up lower the flame and drop a batch of peanuts.
Fry on low lame til light brown.
Take out drain on a paper and sprinkle and mix some chaat masala from remaining 1 tbsp and red chilli powder(if using) .
Like wise fry rest of the peanuts in batches and sprinkle chaat masala and red chilli powder.
Once peanuts cool completely, store in an air-tight container
Baking Masala Peanuts
Add 2-3 tsp of oil while making batter.
Preheat oven to 350°F/180°C.
Spread the batter coated peanuts on baking tray, line with silicone sheet(preferably).
Set the timer for 20 minutes. Check after 10 minutes, shuffle the peanuts and bake for another 10 minutes.
Notes
If allergic to peanuts, you can use Hazelnuts and make Masala Hazelnuts. Use roasted and skinned hazelnuts.Baking time may vary with ovens, check peanuts accordingly.