You play the land normally, as if it were in your hand, with all the same restrictions. You are still limited by the 1 land per turn rule. In order for a card to let you play more than 1 land, it would need to say "you may play additional lands", or it could say "you may put it onto the battlefield" instead of saying "play."
See the rulings on Gatherer:
1/1/2014 Playing a land with the second ability counts as your land play for the turn. If you play a land from your hand during your turn, you won’t be able to play an additional land from the top of your library unless another effect allows you to.
And of course, the timing restrictions still apply too: you still have to play the land at a normal time, during your main phase when you have priority with an empty stack.