The champions were reduced to ten men after Pablo Zabaleta was controversially sent off after 66 minutes and the visitors took the lead within five minutes later.
But substitute Lampard stole the headlines as he turned in James Milner’s cross to salvage a draw from a game that City had dominated for large parts.
Chelsea arrived at the Etihad having won all four of their opening Premier League games, scoring a hatful of goals in the process.
In contrast, City came into the game having failed to win in three matches and in need of a lift after Wednesday’s disappointing defeat in Munich
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Manuel Pellegrini elected to give Eliaquim Mangala his long-awaited debut while Zabaleta, Aleks Kolarov and Sergio Aguero were recalled to the starting line-up.
Last season Jose Mourinho’s side took six points off City – the sky blues knew that they could ill-afford such generosity this time around, particularly as the champions began the day already five points adrift of the West Londoners.
City began brightly and with the visitors camped in their own half for much of the first-half and the only real concern to the hosts was the way referee Mike Dean was dishing out yellow cards – four home players were booked along with two from Chelsea with more than half of the cautions questionable at best.
There was always the feeling that at least one of those yellows would eventually turn to red...
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The teams went into the break still locked at 0-0 with the debut of the impressive Mangala and the power of Vincent Kompany the main talking points in the stands and concourses around the Etihad.
There more half-chances after the break as City continued to pin Chelsea back, but the game looked as though it was heading for a stalemate until the 66th minute when referee Dean opted to send off Zabaleta after a tussle with Diego Costa.
It was perhaps Costa’s reaction that brought things to a head and earned the City defender a second yellow card, but it was a massive call by Dean and one that handed the visitors a huge advantage
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Chelsea took just five minutes to use the extra man to their advantage as sub Andre Schurrle turned in Eden Hazard’s low cross at the far post with 71 minutes played to leave the Blues with a mountain to climb.
Costa hit the foot of the post soon after with a low drive and it was hard to see a way back for the champions at that point with the visitors continuing to defend in numbers and looking fairly comfortable – but there was to be a twist in the tale – the sort only football seems to throw up from time.
With the Chelsea fans still singing his name, substitute Lampard arrived right on cue – as he has countless times in the past – to turn home Milner’s cross and send the home fans wild. It was perfectly-timed, too, with just five minutes of normal time remaining and was nothing less than Pellegrini’s men deserved.
Lampard almost scored again three minutes later as he arrived on the edge of the box to hit a low shot goal-wards but it was deflected to safety and the heavyweight Premier League clash of the campaign so far ended all-square.