Why not use the correct URLs as values of the SelectListItem and use this value to redirect/load the content?
In your ViewModel for the GET use case:
var urlHelper = new UrlHelper(HttpContext.Current.Request.RequestContext);
var availableOptions = new List<SelectListItem> {
    new SelectListItem {
        Text = "All",
        Value = urlHelper.Action("GetAll", "Notifications"),
        Selected = true
     },
     new SelectListItem {
        Text = "Read/Unread",
        Value = urlHelper.Action("GetReadOrUnread", "Notifications"),
        Selected = false
     },
     new SelectListItem {
        Text = "Categories",
        Value = urlHelper.Action("GetCategories", "Notifications"),
        Selected = false
     }
};
In your razor view:
@Html.DropDownListFor(m => m.SelectedView, Model.AvailableOptions)
<script>
$(document).ready(function() {
    // use @Html.IdFor so this does not break 
    // if you rename the SelectedView property in the ViewModel
    var dropdown = $('#@Html.IdFor(m => m.SelectedView)');
    dropdown.on('change', function () {
        // this gets the "value" attribute of the selected option
        var selectedUrl = $('option:selected', dropdown).val();
        $.ajax({
            url: selectedUrl, 
            success: function(result){ /* insert retrieved HTML into DOM ... */ }
        });
    });
});
</script>