Hey,
Every year the cutoff changes depending upon the difficulty of the question paper,number of candidates appearing for the examination,the category of the candidates.
If we take into consideration the previous years data,you should try to score above 530 or so. The competition is really tough and you really need to score good enough to be at par with other candidates. Moreover,if you set higher aims,you are likely to put in more efforts.
Hope this helps.
Good luck.