If extended, the bus would provide residents in the 300 houses on the estate with a bus service within five minutes' walk of their homes.
Route R7 currently runs from the Walnuts Centre in Orpington to Bickley Station via Petts Wood.
The proposed changes would see the route continuing from Bickley Station to the Aquila housing development via Hawthorne Road and Golf Road.
The service would continue to run once an hour between 6:00 and 22:00 Monday to Saturday.
Peter Bradley, Head of Stakeholder Engagement, said: 'London's bus network is constantly under review to ensure we continue to meet the needs of passengers.
'We are very keen to hear passengers' views on our proposals for route R7.'
Information on the consultation can be requested via London Buses Customer Services, who will also welcome feedback or comments on the proposals.
A link to the consultation, which closes on 31 October 2008, will be available on the Transport for London website (tfl.gov.uk/buses).