If you live in a metropolis, go to IGNOU and get an application form for transcripts; otherwise, they say the same is available on the IGNOU website, which you can download, fill out, and attach a photocopy of your consolidated marks sheets, graduation certificate, and a Demand draught as specified on the form. That's all. Courier it and wait for the transcripts, which will be sent to the registered address on file with ignou. IGNOU's support team is ineffective, failing to respond to phone calls or emails and refusing to send transcripts to the address provided on the application form. They will only deliver to the registered address. Depending on your luck, it could take 2 to 3 months.
Get the form, fill it out, attach your marks/grade sheet, and your degree/graduation certificate, and then go to the Delhi ignou examination center. Take a reference or confirmation slip and try to get the personal contact information of someone in the department, then follow up with him. It should be completed in 12-15 days. When you're ready, go personally to collect.
Contact the y-axis concierge service; the service will be charged to you (approx 10k). You should have it in 15-20 days. Basically, they will go with option 2 because they will have branches in almost every city in India.
Note that if you are an IHM student, you will also need NCHMCT Transcripts, which is a separate and relatively easier process.