Madhuchanda was born on 1 February in Kolkata town of West Bengal in a Bengali speaking traditional family. Her father A.S. Debnath was a clerk in State Bank of India and her mother Lila Debnath is a housewife. She studied in C.B.S.E School in Kendreeya Vidyalaya of Kanchrapara up to 10th and she finished her 11th and 12th in C.B.S.E itself in Bholananda School in Barrackpore town of West Bengal. Madhuchanda got her master's degrees both in Music and in Painting from Chandigarh University.

Though Madhuchanda from West Bengal of North India she started her career with Tamil films in South India, her acting debut in Tamil film Mudhal Mudhalai in 2007 which was a concept based super hit film. After that Madhuchanda has done few more Tamil films Vaidaghi in 2009, Minsaram in 2011, Siruvani in 2013, Baanu in 2015. Though her name was changed as Aishwarya by the movie team of Siruvani in 2013, her screen name is running successfully as Madhuchanda only. Now she is noted actress and star as Madhuchanda in the eyes of her fans.