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Initially, it was believed Anirudhya of Secunderabad had fallen off the building by accident while talking over the mobile phone, the police said.
Later, an enquiry revealed the incident, which occurred early Thursday, was suicide as the student had mailed his friends that he was ending his life as he had been depressed, they said.
His mail said he had contemplated taking the extreme step last week, the police said.
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Apparently, he had consulted a psychiatrist a few days ago, the police said. The IIT, in a statement, said it extends its deepest condolence to the family and friends of the deceased.