Improper selection of cutting parameters leads to regenerative chatter and loss in productivity. In the present work, a methodology has been proposed to select a proper combination of input cutting parameters for stable turning with improved metal removal rate. Chatter signals generated during the turning of Al6061-T6 have been acquired using a microphone. Stability lobes diagram has been plotted to access the stability regime. Further, to study the effect of feed rate on stability, the recorded signals have been processed using local mean decomposition signal processing technique, followed by the selection of dominating product functions using Fourier transform. The decomposed signals have been used to evaluate the new output parameter, that is, chatter index. Prediction models of chatter index and metal removal rate have been developed. Moreover, these prediction models have been optimized using multi-objective genetic algorithm for ascertaining the optimal range of cutting parameters for stable turning with higher metal removal rate. Finally, obtained stable range has been validated by performing more experiments.