Nanofluids Have Been an Area of Interest Since the Past Decade Due to Their Number of Potential Applications In Various Fields. Their Physical Properties Have Been Studied on a Vast Scale Like Thermal Conductivity, Viscosity Etc. We Present In This Paper a Study on the Existing Explanations on the Mechanism of the Anomalous Thermal Conductivity Enhancement and Varied Experimental Results Put Forward By the Scientific Community So Far. the Paper Discovers That a Much More Deep Study Is Needed Both on Experimental and Theoretical Platform In Order to Derive Maximum from These Emerging Smart Fluids.