Planning for the 270-home development has been lodged by Taylor Wimpey and Bett Homes.
The four-hectare Linlathen Estate site lies on the eastern edge of the city, north of the A92.
It is thought the £30m project will create more than 200 jobs over five years. Plans are being lodged to the Draft Development Plan for Dundee.
Mr Bob Hyslop, managing director of Linlathen Developments, who are coordinating the project, said: "This site is ideally placed. All the planned renewable energy projects and enterprise zones will be in the east of the city and the council expects a number of them to come to fruition soon.
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"A supply of new houses close by is essential for all those taking up the new jobs which will be created. On this site we can supply these homes very quickly."
Bett's land director, Campbell Black, said: "Linlathen is one of three sites we currently propose to develop in Dundee and we are excited by the prospect of returning to the community where it all started."
Taylor Wimpey East Scotland's Technical Director, Derek Wilson, said: "We are keen to make progress with this project as Dundee will soon need more homes in this part of the city.
"Given that Dundee City Council had the foresight to make the investment in the access road and services, we could realise this investment and start immediately should planning permission be granted.
"It is, therefore, an excellent time to take advantage of this position and we look forward to working with Dundee City Council and our development partners to deliver what will be an exciting development opportunity."
(IT)
