The proposed Cambridge to Oxford railway line could see a new station built to the south of St Neots.
A public consultation took place on Monday at the Priory Centre, in St Neots, to discuss the plans, which could also see a new station built in Cambourne.
East West Railway has revealed five options for the new railway route, two of which include St Neots, and the public are being asked to have their say.
Three of the five options being considered take a route through south Cambridgeshire via Bassingbourn. Two take a more northerly route via Cambourne.
If a route is selected which includes St Neots, it would link to the town with Cambridge and Bedford, en route to Oxford.
The consultation work, which is due to be finished by 2020, is supported by the Government, which has committed £20 million for the East West Railway Company to develop a strategic outline business case.
While the western section of the proposed route, which will run between Oxford and Bedford, can be built by reinstating and upgrading old railway lines, the central section between Bedford and Cambridge will require a new line to be built.
Simon Blanchflower, East West Rail Company's chief executive, said: "Bedford, Cambridge and the communities in between need the right kind of infrastructure to support them. We're hoping that residents will give use feedback on these route options to help us understand more about the priorities of the people this line will serve.
"We'd like as many people as possible to give us their views and are grateful to everyone who takes the time to help us as we design this crucial piece of infrastructure for the area."
A spokesman for East West Railway said that South Cambridgeshire District Council would be responding to the consultation after debating it at a cabinet meeting on March 6.
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