In 1698, the English succeeded in getting the permission to buy the zamindari of the three villages of Sutanuti, Gobindapur and Kalikata (Kalighat) from their owners on payment of Rs 1,200.  

The fortified settlement was named Fort William in the year 1700 when it also became the seat of the eastern presidency (Calcutta) with Sir Charles Eyre as its first president. 

Source: Spectrum Modern India.