Two-time European tour winner, Chawrasia picked up birdies at the first, second and 13th holes before dropping a shot for the first time in last three days at the 17th hole at the tricky Delhi Golf Course to take his total to 12-under 201.
Australia's Marcus Frasar fired a flawless four-under 67 to lie at the third position with a total of seven-under 206.
World No 39 Anirban Lahiri had a roller-coaster day as he fired five birdies against two bogeys and a double bogey to turn in one-under. He was at tied 6th.
Among other Indians, Jeev Milkha Singh (68), three-time winner Jyoti Randhawa (69) and S Chikkarangappa (68) shared the tied 21st spot with a total of 212.
One stroke further down were the quartet of Mukesh Kumar (69), Chirag Kumar (70), Angad Cheema (71) and Manav Jaini (71), while Rashid Khan (71), Kapil Sharma (70) and Shubhankar Sharma (73) were further adrift at 214.
But the indian increased the gap further when he sank a birdie at the second. Both the golfers then parred the rest of the holes in the front nine as Chowrasia continued to lead by two-strokes. The duo picked up a birdie each again at the 13th hole.
It was the par-4 15th hole which changed the complexion between them as the Bangladeshi dropped a double bogey, while Chowrasia saved par once again to jump to a four-stroke lead.
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