Can we configure gcc running on intel x64 architecture to produce binary for ARM chip by just passing some flags to gcc and not using a cross compiler.
Short: Nope
Compiler: gcc is not a native crosscompiler, the target architecture has to be specified at the time you compile gcc. (Some exceptions apply, as for example x86 and x86_64 can be supported at the same time)
clang would be a native crosscompiler, and you can generate code for arm by passing -target=arm-linux-gnu, but you still cant produce binaries, as you need a linker and a C-library too. Means you can run clang -target=arm-linux-gnu -c <your file> and compile C/C++ Code (will likely need to point it to your C/C++ include paths) - but you cant build binaries.
Rest of the toolchain: You need a fitting linker and toolchain too, both are specific to the architecture and OS you want to run at.
Possible solutions: Get a fitting toolchain, or compile your own. For arm linux you have for ex. CrossToolchains if you are on debian, for barebones you can get a crosscompiler from codesourcery.
Since you were very vague, its not possible to give you a clearer answer