The agreement is for the first phase of the Chapelton of Elsick project.
The project has a long-term target of 8,000 new homes.
The site in question, is 2,000-acre area of farmland and is located 10 miles south of Aberdeen.
The first phase of homes, 225 in total, will be built by ZeroC Holdings, in partnership with Hope Homes, AJC Homes and A&J Stephen.
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Last month, Aberdeenshire council's Kincardine and Mearns area committee approved outline planning permission for the project.
Elsick Development Company (EDC) now said the tender process is underway for the infrastructure works for the first phase of the project.
Six companies have been invited to tender for the multi-million pound contract.
Lord Southesk, Director of EDC, said: "Today's announcement is another major milestone for us and takes us another step closer to getting construction under way."
Work is expected to commence on site in the spring of 2014.
(JP/CD)
