Well, we already saw glimpses of who he might be in the first episode.

It’s been only two days that Star Plus’ Iss Pyaar Ko Kya Naam Doon? has gone on air and the suspense element of the show has already gripped the audience.
We have got a gist of why Advay (Barun Sobti) is hell bent on taking revenge from Chandni (Shivani Tomar). The reason is rather simple (according to Advay), where he feels that it was due to Chandni and her family, that his father was murdered and his mother was burnt alive in front of his eyes.
But everyone is aware that Advay Singh Raizada is NOT actually Advay and that ‘someone’ is impersonating him. So who is Advay actually?
In the future episodes, it will be seen that Advay is none other than Dev, Chandni’s childhood friend.
It appears to Dev, that his parents were conspired against and killed by Chandni and her family, and now, Dev wants revenge. He plans to demean and defame Chandni which would ultimately mean hurting her family and hence, has taken the disguise of being Advay Singh Raizada.
But Chandni begins to witness similarities between Dev and Advay and starts suspecting him. Will she figure out that the man who has come back to demean her is her childhood friend?
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