Jeev, whose last international win came at the 2012 Scottish Openis looking for his first title in four years.
Jeev, who turns 45 next month, moved to 13-under 203 after the penultimate round.
One shot adrift is Gaganjeet Bhullar, who last month ended a winless three-year streak in Korea. Bhullar was actually one shot ahead of Jeev coming to the 18th round, but while the younger man bogeyed the 18th, Jeev birdied the par-5 and the lead changed hands.
It will also mean a third international title for an Indian golfer after Chawrasia's success in Manila and Aditi Ashok's win in India on Ladies European Tour last Sunday.
"It will be nice to start the final round in the final group and so good to have another Indian colleague, Gaganjeet (Bhullar) in it," said Jeev.
Among other Indians, first round co-leader, Khalin Joshi struggled to two-over through 17 holes and he will turn Sunday morning to complete the third round. He was seven-under and Tied-13th.
Jeev had a very long day as he first had to complete 11 holes from his second round. On the back nine of his second round, he birdied twice and in between eagled par-5 14th. Going into the third round in second place, he was six-under for the third round. That made him 10-under for the 29 holes he played on Saturday.
Bhullar also missed very fairways but on two of them he dropped a shot each, including a painful on par-5 18th where only four players in the entire field dropped a shot.
Jeev was delighted but tired and said,"I've been up since four in the morning and I played 29 holes today. I can't remember the last time I played so many holes. Honestly, my feet are hurting but I should be ready by tomorrow," he said.
After struggling with injuries in recent years, Jeev played some of his best golf with the help of his coach and caddy Amritinder Singh.
"At the end of the day, you have to keep believing in yourself and keep working on the right stuff. I am happy this week because my family are here with me and my son followed me for 18 holes for the first time in my life. I was focussing more on him and I think that helped!" added Jeev.
He is enjoying a rich vein of form since winning in Korea last month.
"Everything was pretty smooth except the bogey on the last. I am not pressing the panic button. I am just trying to recall my memories from winning here before. I know I won this tournament before but it all comes to routine and process," said the six-time Asian Tour winner.
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