  Using density functional theory calculations we establish the hitherto
unknown compound CrCTe$_3$ to be a stable anti-ferromagnetic semiconductor in
the R$\bar{3}$ crystal structure with an indirect fundamental gap . Successive
layers in the bulk compound are weakly bound by van der Waals forces so that
individual layers can be easily exfoliated. A monolayer of CrCTe$_3$ is also an
anti-ferromagnetic semiconductor. The monolayer is structurally stable over a
large range of compressive and tensile strains, and the anti-ferromagnetic
state is robust over this strain range. Band gap of the monolayer can be tuned
by as much as 50% by applying strain in this range.
