Once fully developed, "north Bungendore" would grow the country town's population by around 1000 people, or around 20 per cent, in three to five years.

Members of the Queanbeyan-Palerang regional council this week voted for the 300-block development to proceed.

Only the formal NSW government gazetting process now remains for the greenfields estate development, a process which is expected to take between two to three months.

Project director Duane Brinkmeyer, whose father, Alex, drove the original Jerrabomberra development and whose company Aland Pty Ltd was also behind the "new Elmslea" residential development 15 years ago, said the council's approval marked the end of a "long road and a lot of effort".

"Our original development application was lodged with the former Yarralumla shire council, that was about 15 years ago," he said. Widespread council amalgamation in NSW was formalised in May, 2016.

Mr Brinkmeyer said that the as-yet-unnamed development in north Bungendore would be sold and developed in three tranches of around 100 blocks each.

READ MORE: Bungendore could quadruple in 30 years

The smallest blocks on the lower, flatter areas of the development site would be a minimum of 850 square metres in size while the blocks on the elevated portions would be between 1000 to 1900 square metres.

Although not able to provide an indication of block prices, he expects strong market demand by providing "more space and better value for home owners than you would find in Canberra or Googong".

The latest Brinkmeyer development has faced considerable hurdles, firstly through its location close to Bungendore's former, long-running rubbish tip (now converted to a "cleaner" waste transfer station), issues with a shortage of sufficient bore water to service the town (now resolved with a deeper bore), and vocal opposition from some Bungendore residents.

"Even at 850 square metres minimum, these are very large blocks by comparison with what is on offer in Canberra," Mr Brinkmeyer.

"In Canberra they [buyers] are paying well over $1000 a square metre for blocks in various areas.

"For standard residential blocks [in Canberra], you're buying 450-500 square metres and paying $450,000 to $500,000 for those lots.

He said that people buying in Canberra with a $600,000-700,000 budget for a house and land package end up with only a "modest-sized" four-bedroom home on a small block.

"For the same money they can come out to Bungendore and build a larger home on a fully serviced block, have a large rainwater tank, and even build a granny flat out the back because they have the space to do it," he said.

Mr Brinkmeyer attended the council meeting on Wednesday night and was buoyed by what he described as a "very strong majority vote" supporting the development, which required rezoning the land from RU1 primary production to R2 low density residential. A maximum building height of 8.5 metres has been set.

Seven councillors, including Mayor Tim Overall, voted for the development, and two against.

Mr Brinkmeyer said that when his company previously developed "new Elmslea", there was a concern from some residents that it would change the character and lifestyle of the laid-back country town east of the ACT.

"But that hasn't happened," he said.

He said that population growth would bring more services with a new ambulance station now built and operating, and local NSW member and Deputy Premier John Barilaro promising the town a much-needed high school.