Chikkarangappa, lying overnight tied second, ended with a winning total of 15-under-273.
With M Dharma (69) and Rahil Gangjee (70) finishing as joint runners-up at 13-under-275, the host city of Bengaluru, bagged the top three positions in the tournament.
Chikkarangappa (67-69-70-67), who lived up to the tag of being the pre-tournament favourite, struggled with his putting through the week but got his confidence going early in round four when he converted a 12-feet birdie putt on the fourth, the first par-5 on the course.
But the two-time winner on the Asian Development Tour came roaring back with a birdie on the 15th to make it four out of four on the par-5s. Thereafter, Chikka took a decisive two-shot lead over closest rivals Dharma and Gangjee, with his last birdie on the 17th where he drove the green.
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A relieved Chikka, who had closed the third round with three consecutive bogeys, said, "I feel tough situations bring out the best in me. I never felt the pressure today and just focused on converting putts, making birdies and achieving my target total of 15-under."
"Playing at Eagleton, I always believe that I can get out of difficult situations as I've successfully done that a few times in the past. I think the birdie conversion from 12 feet on the fourth was the crucial moment of the day as it lifted my morale early in the round," added Chikka, who won his ninth career title (eighth on the PGTI).