diff --git a/charts/ingress-nginx/README.md b/charts/ingress-nginx/README.md
index 8f1f3491d2..24906facfc 100644
--- a/charts/ingress-nginx/README.md
+++ b/charts/ingress-nginx/README.md
@@ -329,11 +329,12 @@ As of version `1.26.0` of this chart, by simply not providing any clusterIP valu
 | controller.image.tag | string | `"v1.10.0"` |  |
 | controller.ingressClass | string | `"nginx"` | For backwards compatibility with ingress.class annotation, use ingressClass. Algorithm is as follows, first ingressClassName is considered, if not present, controller looks for ingress.class annotation |
 | controller.ingressClassByName | bool | `false` | Process IngressClass per name (additionally as per spec.controller). |
-| controller.ingressClassResource.controllerValue | string | `"k8s.io/ingress-nginx"` | Controller-value of the controller that is processing this ingressClass |
-| controller.ingressClassResource.default | bool | `false` | Is this the default ingressClass for the cluster |
-| controller.ingressClassResource.enabled | bool | `true` | Is this ingressClass enabled or not |
-| controller.ingressClassResource.name | string | `"nginx"` | Name of the ingressClass |
-| controller.ingressClassResource.parameters | object | `{}` | Parameters is a link to a custom resource containing additional configuration for the controller. This is optional if the controller does not require extra parameters. |
+| controller.ingressClassResource | object | `{"controllerValue":"k8s.io/ingress-nginx","default":false,"enabled":true,"name":"nginx","parameters":{}}` | This section refers to the creation of the IngressClass resource. IngressClasses are immutable and cannot be changed after creation. We do not support namespaced IngressClasses, yet, so a ClusterRole and a ClusterRoleBinding is required. |
+| controller.ingressClassResource.controllerValue | string | `"k8s.io/ingress-nginx"` | Controller of the IngressClass. An Ingress Controller looks for IngressClasses it should reconcile by this value. This value is also being set as the `--controller-class` argument of this Ingress Controller. Ref: https://kubernetes.io/docs/concepts/services-networking/ingress/#ingress-class |
+| controller.ingressClassResource.default | bool | `false` | If true, Ingresses without `ingressClassName` get assigned to this IngressClass on creation. Ingress creation gets rejected if there are multiple default IngressClasses. Ref: https://kubernetes.io/docs/concepts/services-networking/ingress/#default-ingress-class |
+| controller.ingressClassResource.enabled | bool | `true` | Create the IngressClass or not |
+| controller.ingressClassResource.name | string | `"nginx"` | Name of the IngressClass |
+| controller.ingressClassResource.parameters | object | `{}` | A link to a custom resource containing additional configuration for the controller. This is optional if the controller consuming this IngressClass does not require additional parameters. Ref: https://kubernetes.io/docs/concepts/services-networking/ingress/#ingress-class |
 | controller.keda.apiVersion | string | `"keda.sh/v1alpha1"` |  |
 | controller.keda.behavior | object | `{}` |  |
 | controller.keda.cooldownPeriod | int | `300` |  |
diff --git a/charts/ingress-nginx/templates/controller-ingressclass.yaml b/charts/ingress-nginx/templates/controller-ingressclass.yaml
index 9492784a28..f28c116eec 100644
--- a/charts/ingress-nginx/templates/controller-ingressclass.yaml
+++ b/charts/ingress-nginx/templates/controller-ingressclass.yaml
@@ -1,6 +1,4 @@
 {{- if .Values.controller.ingressClassResource.enabled -}}
-# We don't support namespaced ingressClass yet
-# So a ClusterRole and a ClusterRoleBinding is required
 apiVersion: networking.k8s.io/v1
 kind: IngressClass
 metadata:
diff --git a/charts/ingress-nginx/values.yaml b/charts/ingress-nginx/values.yaml
index 553c5e8929..e62fbcb809 100644
--- a/charts/ingress-nginx/values.yaml
+++ b/charts/ingress-nginx/values.yaml
@@ -108,21 +108,30 @@ controller:
     enabled: false
   # -- Election ID to use for status update, by default it uses the controller name combined with a suffix of 'leader'
   electionID: ""
-  ## This section refers to the creation of the IngressClass resource
-  ## IngressClass resources are supported since k8s >= 1.18 and required since k8s >= 1.19
+  # -- This section refers to the creation of the IngressClass resource.
+  # IngressClasses are immutable and cannot be changed after creation.
+  # We do not support namespaced IngressClasses, yet, so a ClusterRole and a ClusterRoleBinding is required.
   ingressClassResource:
-    # -- Name of the ingressClass
+    # -- Name of the IngressClass
     name: nginx
-    # -- Is this ingressClass enabled or not
+    # -- Create the IngressClass or not
     enabled: true
-    # -- Is this the default ingressClass for the cluster
+    # -- If true, Ingresses without `ingressClassName` get assigned to this IngressClass on creation.
+    # Ingress creation gets rejected if there are multiple default IngressClasses.
+    # Ref: https://kubernetes.io/docs/concepts/services-networking/ingress/#default-ingress-class
     default: false
-    # -- Controller-value of the controller that is processing this ingressClass
-    controllerValue: "k8s.io/ingress-nginx"
-    # -- Parameters is a link to a custom resource containing additional
-    # configuration for the controller. This is optional if the controller
-    # does not require extra parameters.
+    # -- Controller of the IngressClass. An Ingress Controller looks for IngressClasses it should reconcile by this value.
+    # This value is also being set as the `--controller-class` argument of this Ingress Controller.
+    # Ref: https://kubernetes.io/docs/concepts/services-networking/ingress/#ingress-class
+    controllerValue: k8s.io/ingress-nginx
+    # -- A link to a custom resource containing additional configuration for the controller.
+    # This is optional if the controller consuming this IngressClass does not require additional parameters.
+    # Ref: https://kubernetes.io/docs/concepts/services-networking/ingress/#ingress-class
     parameters: {}
+    # parameters:
+    #   apiGroup: k8s.example.com
+    #   kind: IngressParameters
+    #   name: external-lb
   # -- For backwards compatibility with ingress.class annotation, use ingressClass.
   # Algorithm is as follows, first ingressClassName is considered, if not present, controller looks for ingress.class annotation
   ingressClass: nginx