Story point is estimated by product owner or development team?
The team who are going to do the work are the ones who should estimate the story. It makes no sense for estimates to be made by anyone else because people outside the team simply have no idea how the team are going to get it done.
Typically in Scrum, the team is a scrum master, a product owner and several developers. The product owner is part of the discussion on estimate, but for setting estimates, it's mainly so the developers can explain why they are setting an estimate differently to what the PO guesses. They're the ones who are going to do the work, so they're the only people who can size it.
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