With preferred lies in place, the duo's 63s did not qualify as an official course record but left them clear of the field on nine under par.
Burke and Chacarra were one shot ahead of Burke's fellow South Africans Brandon Stone and Thriston Lawrence after a day of low scoring as the tournament moves for this year from its traditional Leopard Creek home to Royal Johannesburg Club.
Starting on the back nine, Chacarra birdied his first two holes and gave a shot back at the 15th before his outstanding scoring run kicked into gear.
He birdied the 17th and eagled the 16th, added further birdies at the first and third and finished with three in four holes.
Chacarra said: "I think I played really good golf - I’d been playing really good golf last week too, it’s just how golf is, the score wasn’t there – but I trust the plan that I have with my caddie and I think we did a tremendous job.
"Obviously the course is playing a little easier being softer but still you need to hit the shots out there.
"Happy with the start but it’s only the first round, a lot of golf left."
Burke started with a remarkable run of six consecutive birdies, and responded to his first dropped shot of the day at the tenth with another three straight gains from the 12th.
His challenge looked to have faltered with bogeys at the 15th and 16th but he produced a birdie-eagle finish to a round featuring only four pars.
He said: "Yeah, it was really fun. Good start – always fun, a six-birdie start! It’s tough to try to (keep) the momentum after that great start, but I’m happy with how I played today.
"I only figured out after the seventh hole I made six birdies in a row! So I just took the momentum from there.
"I like this golf course, I play here a lot. It suits my game and I’m just very comfortable on this golf course."
Three more home players, Branden Grace, Daniel van Tonder and Samuel Simpson, were tied at seven under with England's Brandon Robinson Thompson.