I can see the SDL has released patch to fix issues in Chrome 36 for SDL Tridion 2011 SP1 HR2 version.
We are using SDL Tridion 2011 SP1.
Can I directly install this patch on version SDL Tridion 2011 SP1.
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There is some hope that the issue may not be present in Chrome 38. If you look at Chrome's bug tracker, you'll see a note to this effect.
However - please note that the issue is still officially "Unconfirmed", so any fix would be "by accident" rather than as a result of someone actively fixing the problem.
So - it might be worth considering whether you need to patch at all.