The ruins of the ancient baked brick Chaneti Stupa are said to be dating back to the Mauryan period when the city of Shrughna (now Sugh) was under the rule of emperor Ashoka.

According to an account given by the Chinese pilgrim Yuan Chwang, Sugh was home to a number of important stupas as well as a monastery. The village of Chaneti lies about 3 km north-west of Sugh, and it is highly likely that the stupa at Chaneti was among the ones referred to by Yuan Chwang. The architectural style of this baked brick stupa, formed by concentric layers to create a hemisphere, corresponds with the Shahpur and Dharmarajika stupas at Taxila. When constructed, the stupa was most probably surrounded by a wooden railing as no trace of a stone railing has been found. The Kushana period saw the construction of four shrines in four directions near the old circumambulatory path (pradakshina path). A new pathway was also built underneath to walk around it. This is the only place in India where Sunga period terracotta figures of Vaanara (monkey) have been found. Archaeological pieces of evidence have suggested that this was an important trade juncture on the Uttarapath, which lay on the banks of the Yamuna river. According to the travel records of Yuan Chwang, the village was big enough and important enough to be home to about a 100 Hindu temples, 10 stupas and five monasteries.