To solve this question, we should know the fact that maximum area here can only be when the rectangle is a square.
So, diagonals (of length 2a here) intersect at 90 degree,
Therefore total area of rectangle = $4 * (1/2 * base * height)$ = $4 * (1/2 * a * a)$ = $2a^2$
Area of remaining portion = $\pi a^{2} - 2a^2$
Derivation of the fact
We should know $AM \ge GM$ for non-negative numbers (link),
if length is $L$, and width is $W$, then $\frac{L^2 + W^2}{2} \ge \sqrt{L^2 W^2}$
Since we know diagonal is $2a$, using pythagoras theorem: $L^2 + W^2 = (2a)^2 = 4a^2$
Putting it in the equality: $\frac{4a^2}{2} \ge L W$ (L & W has to be positive)
As area of rectangle is $L*W$, the above equation becomes $2a^2 \ge A$
Therefore, maximum value of area is $2a^2 $, which is possible if the rectangle has sides $a\sqrt{2}$