The Elsick Development Company (EDC) wants to transform the 2,000 acre near Newtonhill ten miles south of Aberdeen.
The Chapelton of Elsick scheme will contain 4,000 new homes alongside new schools and shops.
The application by the EDC has now gone to Aberdeenshire Council for consideration.
The land is owned by the Duke of Fife and the project is being managed by his son David Southesk.
Southesk, director of the Elsick Development Company, said: “It has taken a great deal of work and commitment to get to this point.
“Chapelton will not only provide a substantial economic boost to the area, but offers an opportunity to create a new style of living that will undoubtedly provide home buyers with a vibrant community in the north east of Scotland.
“It’s situated very close to the A90 corridor.”