Four entire new villages totalling 3,500 homes could be built on countryside between Woburn Sands and Aspley Guise.
Proposals for Hayfield Village One, consisting of 700 homes, a lower school and shops, were revealed this week.
Close to the M1 and Magna Park, the new settlement would border Wavendon and be three quarters the size of Aspley Guise itself.
It would be inside the parish boundary of Aspley Guise and about a mile away from Woburn Sands.
Already councillors in both areas have expressed concerns about problems with traffic and infrastructure that the new development could cause.
And they fear three more similarly sized villages and thousands of new families would simply be too much for the existing communities.
But the consortium behind the scheme, which hopes to submit a planning application later this summer, has assured residents their views will be taken into account.
Four large developers have joined forces to form the new consotium, which is called Hayfield after the farmland the houses would be built on.
They say the land, known as the Aspley Guise Triangle, is considered the best in the area for new homes because of its commuter links to Milton Keynes and its position of the future East West Rail route.
The site is bordered by the busy A421 on the north and the rural Cranfield Road on the west. Already residents predict local traffic chaos would result.
Hayfield Consortium representatives said: “The Government is encouraging more house-building. The Local Plan has been delayed and the area has therefore not identified enough land to meet its emerging housing needs.”
The Hayfield Consortium was previously known as the South East Milton Keynes Consortium – the developers that tried to build 7,000 homes around Wavendon.
Hayfield Village would be exactly six miles from Central Milton Keynes. It would be a “standalone” community, meeting its own needs but linked to local infrastructure.
The consortium plans a series of public exhibitions and has set up a consultation freephone number - 0800 9889 141.
Visit www.hayfield-park.co.uk for more details.