Besides Sawant, the names of BJP MLA and former state health minister Vishwajit Rane, and Himachal Pradesh Governor Rajendra Arlekar, who hails from Goa, are being discussed for the CM's post.
The BJP won 20 out of the total 40 seats in the Goa elections and secured the support of MGP and three Independents.
On Saturday, Sawant tendered his resignation to Governor PS Sreedharan Pillai at Raj Bhawan in Panaji to pave way for the formation of the new government after the BJP won the Assembly polls.
Chodankar was at the helm of affairs of the Congress during the recent elections held for the 40-member Goa Assembly.
Congress in more mess? Three days over since Goa poll results, party yet to decide its legislature leader
According to sources, the Goa Congress unit has not held a single meeting after it failed to reach the majority mark of 21 in the 40-member Assembly.
Rane has been projecting himself as a contender for the post of Goa chief minister after the BJP won 20 of the total 40 seats in the recent elections, sources said.
Out of the total of 20 seats, the grand old party won only five, after having secured victory in 10 of those five years ago. In North Goa, too, the Congress tally fell from seven to six.
Sawant met Governor P S Sreedharan Pillai at the Raj Bhavan around noon and submitted his resignation.
Some newly-elected BJP MLAs in Goa are against accepting the support of the Maharashtrawadi Gomantak Party, sources said.
Talking to reporters after the meeting, state Revenue Minister Jeniffer Monserratte said the cabinet will also be dissolved on Monday.
The victory margin remained below the 100-mark in two of these constituencies in the coastal state, where the assembly polls were held on February 14 and the results were declared on Thursday.
BJP’s Goa in-charge Devendra Fadnavis claimed the party has got a support letter from Maharashtrawadi Gomantak Party which has two MLAs.
TMC's show in the Goa assembly election failed to match the noise it made while entering the poll fray, with no seat to show for its efforts.
Goa Chief Minister Pramod Sawant has been able to deliver victory for the party in the assembly elections in the coastal state.
The BJP has won 20 out of 40 seats, while the Maharashtrawadi Gomantak Party (MGP) has won two seats.
CM Pramod Sawant was trailing in Sanquelim constituency, while health minister Vishwajit Rane, a prominent contender or the CM's post, was leading in Valpoi constituency.
The Congress had contested the election on 37 seats, while ally Goa Forward Party had fielded three candidates.
Political developments in Goa have picked up pace after exit polls indicated a possible hung assembly, giving the BJP and Congress 15-17 seats each in the 40-member House.
MGP to emerge as kingmaker in Goa? BJP starts discussion with former ally as exit polls predict hung assembly in state
In 2019, when Pramod Sawant became the CM, two MGP ministers were dropped from the state cabinet. This time, the MGP contested the state Assembly elections in alliance with the Trinamool.
The party seems to have taken lessons from the 2017 Goa election, when slow decision-making by the leadership helped the BJP form government in the coastal state despite not having the numbers.