What action is the Master Arduino performing? Is it simply acting as a central router for the messages? If so, it may not be needed, the slaves could maybe transmit direct to each other.
How many buzzers and leds does each slave have? 20 leds and 5 buzzers, 25 leds and 25 buzzers? 25 leds and 1 buzzer?
For RF communications, there are several modules that might be suitable. For example nrf24l01+
If the range is 30m without any walls or other obstacles, there are many types of rf module that should be able to communicate. 200m without walls will be more difficult. 200m with walls will be very difficult.
Tell us more about your idea, what you want to achieve instead of how you think you should try to achieve it.
I think wires will take a lot of work and a lot of cable!
300m though walls is not easy. I have never used a type of rf module with that kind of range for Arduino, but I have read about them.
Does each house have WiFi and internet connection?
A 2-digit 7-segment display may be easier to read than 25 individual leds. Is it likely that two slaves will be activated at the same time? If so, the display could flash their numbers in sequence. Also 16x2 lcd displays are very cheap.
I have to say, this project is not a good project for a beginner!