"We will form government if we get support in natural process. Otherwise, we will like to sit in the Opposition," senior party leader Nitin Gadkari told PTI.
The BJP bagged 31 seats and its ally SAD one, four short of an absolute majority in the 70-member House.
Arvind Kejriwal's Aam Aadmi Party secured 28 seats but has ruled out out extending support to any party or taking it from anyone.
"We are not considering to support any party in Delhi. There is no question of supporting Aam Admi Party," AICC general secretary Shakeel Ahmed said.