Landowner Devon Swan Holidays is looking to submit an application for outline planning permission for 250 houses on the land at Gatehouse Farm.
The plans include a new link road, a percentage of affordable houses and other community infrastructures such as allotments and an orchard.
News of the plans comes just weeks after a planning application for 350 homes at Shutterton Park was submitted to Teignbridge Council.
A public exhibition of the Gatehouse Farm proposals is planed for Tuesday at the Manor House between 3.30pm and 7.30pm where developers will be available to answer questions.