You Heared right, yes its 4 step, easiest process !
Prerequisites :
Download Links:-
Micromax Yu Yureka Root Files : http://goo.gl/ebYAvN
PdaNet+ : http://pdanet.co/a/
Update SuperSU : http://goo.gl/VeUGwH
STEP 1 : Install PdaNet+

Keep pressing yes-yes to succcessfully install, in choose device "Choose Other"!
STEP 2 : Connect Phone

(1) Initialization : Open phone -> go to ABOUT -> Build Number -> Tap it 7 times, to unlock Developer Access -> Go back to Setting -> Developer Options -> Enable USB Debugging.
(2) Connect Your phone(Switched ON State) -> Pda will ask to pair : Pair in PC & select always pair in Mobile.
STEP 3 : Unlock BootLoader

(1) Now open Yu Root Tools Extracted Folder -.> Ctrl+Shift+Right Click -> Choose open Command Prompt Option from dropdown list.
(2 Type these Fastboot Commands in command prompt :
(a) adb devices (Phone will ask to pair "Tick Always Pair" & pair device)
(b) adb reboot bootloader
(c) fastboot -i 0x1ebf oem unlock
(d) fastboot -i 0x1ebf flash recovery recovery-yu.img
:good:CONGRATULATION NOW YOUR BOOTLOADER IS UNLOCKED & CWM RECOVERY INSTALLED !
STEP 4 : Root Device !

(1) Switch your phone ON -> Connect to PC -> Copy the Update SuperSU.zip in MicroSD Card/Internal Memory [i prefer SD Card].
(2) Power Off your Phone -> Wait till it shutdown -> PRESS (Volume up)+(Volume Down)+(Power Buttons) together for 3 secs.
Note : Phone will boot to CWM Recovery -> Vol Up for UP, Vol Down foe Down & Power button to select.
(3) Select install Zip -> Install from sdcard(if super zip in Internal)/ Install from sdcard1(if super zip in MicroSD) -> Browse & Select Update SuperSU.zip -> select & wait for installation.
(4) Go Back -> Reboot now -> Select : fix root -> COMPLETE !
:good:PHONE ROOTED SUCCESSFULLY NOW JUST RESTART DEVICE !

xda-developers
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