diff --git a/apiserver/plane/db/migrations/0069_auto_20240531_0934.py b/apiserver/plane/db/migrations/0069_auto_20240531_0934.py
new file mode 100644
index 0000000000..6c994d1c2f
--- /dev/null
+++ b/apiserver/plane/db/migrations/0069_auto_20240531_0934.py
@@ -0,0 +1,74 @@
+import django.db.models.deletion
+from django.db import migrations, models
+
+
+def issue_estimate_point(apps, schema_editor):
+    Project = apps.get_model("db", "Project")
+    EstimatePoint = apps.get_model("db", "EstimatePoint")
+    Issue = apps.get_model("db", "Issue")
+    updated_estimate_point = []
+
+    # loop through all the projects
+    for project in Project.objects.filter(estimate__isnull=False):
+        estimate_points = EstimatePoint.objects.filter(
+            estimate=project.estimate, project=project
+        )
+        for issue in Issue.objects.filter(
+            point__isnull=False, project=project
+        ):
+            # get the estimate id for the corresponding estimate point in the issue
+            estimate = estimate_points.filter(key=issue.point).first()
+            issue.estimate_point = estimate
+            updated_estimate_point.append(issue)
+
+    Issue.objects.bulk_update(
+        updated_estimate_point, ["estimate_point"], batch_size=1000
+    )
+
+
+def last_used_estimate(apps, schema_editor):
+    Project = apps.get_model("db", "Project")
+    Estimate = apps.get_model("db", "Estimate")
+
+    # Get all estimate ids used in projects
+    estimate_ids = Project.objects.filter(estimate__isnull=False).values_list(
+        "estimate", flat=True
+    )
+
+    # Update all matching estimates
+    Estimate.objects.filter(id__in=estimate_ids).update(last_used=True)
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ("db", "0068_estimate_last_used"),
+    ]
+
+    operations = [
+        # Rename the existing field
+        migrations.RenameField(
+            model_name="issue",
+            old_name="estimate_point",
+            new_name="point",
+        ),
+        # Add a new field with the original name as a foreign key
+        migrations.AddField(
+            model_name="issue",
+            name="estimate_point",
+            field=models.ForeignKey(
+                on_delete=django.db.models.deletion.SET_NULL,
+                related_name="issue_estimate",
+                to="db.EstimatePoint",
+                blank=True,
+                null=True,
+            ),
+        ),
+        migrations.AlterField(
+            model_name="estimate",
+            name="type",
+            field=models.CharField(default="categories", max_length=255),
+        ),
+        migrations.RunPython(issue_estimate_point),
+        migrations.RunPython(last_used_estimate),
+    ]
diff --git a/apiserver/plane/db/models/issue.py b/apiserver/plane/db/models/issue.py
index bf5fb87c8f..404a20abcc 100644
--- a/apiserver/plane/db/models/issue.py
+++ b/apiserver/plane/db/models/issue.py
@@ -119,11 +119,18 @@ class Issue(ProjectBaseModel):
         blank=True,
         related_name="state_issue",
     )
-    estimate_point = models.IntegerField(
+    point = models.IntegerField(
         validators=[MinValueValidator(0), MaxValueValidator(12)],
         null=True,
         blank=True,
     )
+    estimate_point = models.ForeignKey(
+        "db.EstimatePoint",
+        on_delete=models.SET_NULL,
+        related_name="issue_estimate",
+        null=True,
+        blank=True,
+    )
     estimate = models.ForeignKey(
         "db.Estimate",
         on_delete=models.SET_NULL,