Housebuilder Allison Homes has lodged the proposals, which represent the second phase of its Abbey Park development in Thorney.
Abbey Park, situated off Sandpit Road, consists of three, four and five bedroom properties.
The site has now been secured under contract and Allison Homes said it is "working closely" with Peterborough City Council officers as it aims for "early planning approval".
The houses will include properties that will be sold on the open market, as well as affordable homes available through rent and shared ownership.
Work is expected to commence in summer this year, subject to planning permission.
David Morris, land director of Allison Homes, said: “We are thrilled to have secured this site and submitted a planning application to bring forward the next phase our Abbey Park development, providing the local people of Peterborough with much needed, high quality housing in a thriving community setting.
“We’re going through a very exciting time as we rebrand and strengthen the Allison Homes name, and our proposals for a second phase at Thorney form part of our wider expansion plans.”