The new stations being planned by Devon County Council for Newcourt and Marsh Barton have been identified within the Local Transport Plan and Exeter City's Local Development Framework.
The County Council is now seeking the views of local firms and residents in advance of submitting detailed planning applications for each station next year.
Before this can take place, officers will be reporting to the County Council's Cabinet later this year on progress with the plans, and requesting approval to submit the planning applications.
The stations are proposed to serve key residential and employment areas in the city, and form a central part of plans to improve local rail services through the Devon Metro initiative.
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Councillor Stuart Hughes, Devon County Council Cabinet Member for Highways and Transportation, said: "Plans are still being developed and while this is a very early stage of the process we want to hear the thoughts of local businesses and local residents.
"We will be consulting with residents associations, business forums and rail user groups over the coming weeks and there will obviously be more consultation once the plans have been developed and the formal process for applications is underway.
"These stations would greatly increase access to the local rail network in key areas of the city which will be of huge benefit to local people and the local economy, helping business and easing congestion."
The station at Newcourt, which would be located adjacent to the former Royal Naval Stores Depot development area, will improve public transport access to this significant development area, with a journey time of just over 10 minutes to the city centre.
At Marsh Barton, the station, which would be centrally located within the trading estate, near the rail bridge served off Alphin Brook Road, will provide the opportunity for rail commuting from South and East Devon to the estate, relieving pressure on the A379 and Countess Wear.
It will also increase public transport access to the Riverside Valley Park.
Both new stations will be fully accessible with similar facilities to those at Digby and Sowton, and will be well connected to the city's walking and cycling network.
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