1. An image processing method for classification of halftone frequencies, the image processing method comprising: converting, by an image processor in a multifunction device, pixel values of a first block of pixels, associated with a pixel-of-interest, into first pixel values, wherein the first block of pixels is one of a plurality of first block of pixels in a binary image; generating, by the image processor in the multifunction device, a second block of pixels comprising second pixel values based on pixel shifting in the first block of pixels of the plurality of first block of pixels by a first pre-determined value; determining, by the image processor in the multifunction device, a frequency value for the pixel-of-interest in the first block of pixels based on a count of a pre-specified type of third pixel values in a corresponding third block of pixels, wherein the third pixel values in the third block of pixels are determined based on a pre-specified operation on the first pixel values of the first block of pixels and the second pixel values of the second block of pixels; estimating, by the image processor in the multifunction device, other plurality of frequency values for other pixels-of-interest in other plurality of first block of pixels when a mode value, corresponding to a plurality of frequency values of pixels-of-interest in the plurality of first block of pixels, exceeds a pre-determined threshold mode value; and performing, by the image processor in the multifunction device, one or more image processing operations on the binary image based on the determined plurality of frequency values corresponding to the pixels-of-interest in the plurality of first block of pixels and the estimated other plurality of frequency values corresponding to the other pixels-of-interest in the other plurality of first block of pixels.