Get selected dropdown list boxvalue in MVC3

I think that the best way yo achieve this by using ViewModel.

Create two class QuotaViewModel and Quota

public class QuotaViewModel
{
public int QuotaId{get;set;}
public List<quota> Quotas{get;set;}
}
public class Quota
{
public int Id{get;set;}
public string Name{get;set;}
}</quota>

Create a controller and two ActionResults

public ActionResult Index()
{
var quota=new List<quota>{new Quota{Id=1,Name="Tatkal"},new Quota{Id=2,Name="Ladies"}};

return View(quota);
}
</quota>

Create a action for get the value of dropdownlist like below

public ActionResult Create(QuotaViewModel quotaViewModel)
{
//you get the selected id while clicking the button
int selectedId=quotaViewModel.QuotaId
return View();
}

Create a view which should return the model QuotaViewModel

@model QuotaViewModel
@{
}
@using(Html.BeginForm("YourControllerName","Create", FormMethod.Post)){
@Html.DropDownListFor(m => m.QuotaId, Model.Quotas)
<input type="submit" value="click here"/>
}

Hope this helps