town, block
甼 centers on a defined settlement area: a town or a block within a town. Both meanings point to a bounded, organized community space.
甼 is a variant form of 町, combining 田 (rice field) and 丁 (a phonetic element also suggesting a defined area). The character represents a division of land, such as a town or block.
A rice field 田 is divided by a street sign 丁, marking the boundary of a town block.
For チョウ, imagine a town chief named Chou walking through the blocks: Chou -> チョウ, and he knows every corner of the town.