According to the agreement between both parties, Sena will hold the post of Mayor for four years and BJP for one year.
The Deputy Mayor's post will held by the BJP for four years, followed by the Sena for one year.
"There was no hard bargaining involved in our discussions. It got over in five minutes flat, because both parties knew that grass-root workers want us to rule the KDMC together," senior BJP leader and Maharashtra Finance minister Sudhir Mungantiwar, who was involved in the negotiation process, told PTI.
The decision was taken after a round of talks held between Mungantiwar and Sena leader and state PWD Minister Eknath Shinde today.
"We have got an opportunity to serve the people. If we don't do this and keep talking about power all the time, people are bound to get frustrated. We cannot let this happen," he said.
With the decision to share power, the combined strength of Sena and BJP would be 94.
The Congress won four, while the NCP won two seats in the polls that took place last Sunday. The Raj-Thackeray led MNS managed to get nine seats, while the BSP and the MIM won one seat each. Nine independent candidates also emerged as winners in the civic body.
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