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Nanocrystalline thin films of amorphous, anatase and rutile titanium dioxide are prepared using pulsed laser deposition technique. The refractive indices of these films are determined from the optical transmittance spectra using Swanepol method. The optical band gap, optical conductivity, complex dielectric constant and dissipation factor of the films grown under different conditions are calculated. The oscillator strength of these films, calculated using Wemple and Didomenico model, is found to be sensitive not only to the phase, but also to the oxidation kinetics under which the films are formed.