The Mahabalipuram temple was constructed during the Pallava Dynasty. The Pallava Dynasty, which reigned in South India from the 3rd to the 9th century, was known for its patronage of art and architecture. The temple complex at Mahabalipuram is a UNESCO World Heritage Site and showcases the architectural mastery of the Pallava Dynasty. The temples at Mahabalipuram are primarily dedicated to Lord Shiva and Vishnu, and feature intricate carvings and sculptures. The Chola Dynasty, although also known for its temple construction, came into power after the Pallava Dynasty and therefore cannot be the correct answer. Likewise, the Gupta Dynasty and the Chalukya Dynasty were ruling in different regions of India during the time, so they cannot be the correct answer either. Therefore, the correct answer is option 2, the Pallava Dynasty.