The characterization of the gas condensate reservoir is complicated due to the multiphase flow of the fluid. The change of the composition of the excellent stream further makes it complicated. Such characterization is being done to measure the superb performance. To overcome this complexity, rigorous mathematical modelling is suggested for well test analysis. This mathematical modelling can be used to establish the correlation between well test analysis and well performance analysis. The research work is carried out to develop the analytical method to calculate the effective permeability of the gas condensate reservoir, gas condensate mobility and effects of mobility on the effective permeability. Here the different mathematical models are studied during the research work. The other correlations are used to determine the reservoir fluid's properties. Perrine’s method is used to estimate reservoir permeability. The research was carried out to analyze the effects of gas condensate mobility on permeability. In this work, the pressure build-up test data is analyzed, effective permeability ( ), gas condensate mobility and effects of gas condensate mobility are analyzed. This study found effective permeability and mobility by applying mathematical models, oil 14.603 mD, gas 0.148 mD and water 17.159 mD. Using the data obtained through the correlations, the calculated mobility (λ) of the oil, gas and water phase is 126.652 mD/cp, 13.454 mD/cp and 98.671 mD/cp, respectively.