The victim identified as Sunil Garg, was also a prominent iron trader.
He was last seen earlier on Sunday campaigning for a Bharatiya Janata Party (BJP) candidate for the municipal corporation polls, the police said.
He went missing after he left his home on Sunday evening.
Superintendent of Police (City) Man Singh told IANS that there were “injuries on the victim’s face inflicted with a sharp weapon”.
His bike was recovered from a parking lot at a hospital.
CCTV footage was being checked to ascertain the whereabouts and movement of the RSS worker prior to this death, the police official added.
Meanwhile, RSS and BJP workers along with traders have given an ultimatum to the police to crack the case.