This would work just fine for the initial generation of the maps. If the generation algorithm is using a deterministic approach for generating the chunks, you will get the same chunk every time. This means you can't create any random generators on the clients them selves unless you're using the seed from the server as the seed for the random generator.
This can be demonstrated in Minecraft with the world generation seeds shared among its users. If someone finds a map they like, they can share the world generation seed with others and Minecraft will generate the exact same map.
Obviously you'll need to send the clients any changes that are made after the initial generation. Since those could not be predicted by the generation algorithms. In that case it would be far better to transmit the map instead. You can try to only submit the changes, but it may more complex and could be more time consuming to find what has changed and send the changes than to just send the entire map.