The counting of votes in the Brihanmumbai Municipal Corporation (BMC) election will begin at 10.00 AM IST on February 27, 2017. Touted to be the richest municipal corporation in Asia with an annual budget of more than Rs 40,000 Crores, the results of this election has crucial significance in determining the future of Mumbai's development. The results are expected to be finalized by 12.00 PM.

Indians in the US from Maharastra will be keen to know the results.

Live updates:

Party wise results/leads: (BMC has 227 seats)

Shiv Sena 84,

BJP 81,

MNS 7,

Congress 15,

NCP 6,

others 5

Record voting percentage of 55.28

This year, the election was conducted on February 21, 2017, and interestingly, it witnessed a record voting percentage of 55.28.

In the BCM elections conducted on 2012, the voting percentage was 45.3, while in 2007, it was a meager 42 percentage.

2275 candidates competed in this year's election. As per reports, more than 90 lakh people have made use of their basic right by casting their valuable votes.

As BMC elections witnessed a record voting percentage, Maharashtra Chief Minister Devendra Fadnavis thanked the citizens in the city for participating in the festival of democracy.

Will demonetization affect BJP's winning chance?

The decision to withdraw currencies of 500 and 1000 had created negative impacts on the Indian economy, and the city which was most affected by this movie was the financial capital of India.

BMC results live

In a recent talk with the Press, Shiv Sena MP Arvind Sawant told that this election results will be an open slap to Narendra Modi's demonetisation drive.

He also added that the massive voting turnover clearly indicates that people are with Shiv Sena this time. According to Sawant, demonetization has created huge hardships in the life of common man, and now, their only choice is to vote for Shiv Sena.

Shiv Sena has been dominating BMC Elections for the past twenty years, with four back-to-back wins.

The India Today Exit Poll survey which was out some days back indicated that Shiv Sena will have a slight upper hand over BJP in this election, and they will grab a seat count of 92. The poll indicated that BJP will bag 88 seats.