Dharma and Aman, who were both placed overnight tied second, shot rounds of seven-under-64 for the second day in succession at the Rs. 40 lakh event to surge into the joint lead at 14-under-128.
Bengaluru's Chikkarangappa, a two-time international winner, too fired a 64 on Thursday to occupy third place at 13-under-129.
However, Gaurav hogged the limelight with his spectacular and error-free 61 that catapulted him 36 places to tied fourth at 11-under-131.
The 34-year-old, a former winner on the PGTI, went one better than the previous course record of 62 first set by Ajeetesh Sandhu in 2016 and then equalled by Amardip Malik on Wednesday this week during round one.
Amardip, the first round leader by two shots thanks to his superlative 62, plummeted to tied 13th on day two after an ordinary 73 that moved his total to seven-under-135.
M Dharma (64-64), fresh from one of his best ever seasons having finished eighth on the 2018 PGTI Order of Merit as a result of nine top-10s, continued his hot streak on Thursday.
He raced to five-under over the first six holes after making three birdies and an eagle. The 32-year-old, a two-time winner on the PGTI, then struggled with some short range putts on the back-nine and could add only two more birdies to his card.
Reigning PGTI Order of Merit champion Khalin Joshi of Bengaluru came up with a 65 to be placed seventh at 10-under-132.
Defending champion Udayan Mane of Ahmedabad posted a 66 to be tied ninth at eight-under-134.
First round leader Amardip, slipped 12 spots on day two as his round of 73 was marred by a double-bogey and a triple-bogey on the front-nine.
The cut fell at even-par-142. Fifty professionals made the cut.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)