The 11th house corresponds to an air sign and is therefore a house of kama (desire).
Desires, ambitions, wishes, opportunity, friends, eldest brother, profits, wealth, paternal uncle, legs and ankles.
Ayaya bhava has rulership of gains and profits by "any means". It is therefore different from the 2nd in that it can reveal financial windfalls and specific means of income. For example, Jupiter in 11th could bring money through astrology or spiritual affairs. Mercury might bring income through writings or lectures. These sources of income could be in addition to one's regular job or career.
The 11th specifically-rules major desires and ambitions, and indicates whether they will be fulfilled. A strong benefic in the 11th means a person will succeed in virtually any undertaking. A fallen planet in the 11th may indicate constant and insatiable desires.
The eldest sibling is also seen from this house.
The karaka, or indicator, of the 11th house is Jupiter.
A retrograde lord of the 11th house can make a person unambitious and/or delay the fulfillment of desires.
Source: «Ancient Hindu Astrology for the Modern Western Astrologer» by James Braha