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Nanofluids, consist of base liquid and nano-sized conductive particles, are widely acclaimed as a new generation
liquid for heat transfer applications. Since it possesses a variety of conductive particles, it can be efficiently utilized in the
heat exchanger. These nano-sized conductive particles can increase the surface area, thus the heat transfer area, and change
the thermophysical features of nanofluids. Density, thermal conductivity, viscosity, and heat capacity are crucial parameters
and cannot be underestimated in heat transfer. These properties can be manipulated by the particle and base-liquid, and
significantly influence the performance of nanofluids. For the last decade, several models, equations, and investigations
were performed to examine the parameters that promote the properties. The review is necessary for terms of classifying the
studies both compatible, and contradictory on the effects of density, thermal conductivity, viscosity, and heat capacity on
the performance of nanofluids.