But, you do have a land to return to your hand: The Basilica itself. So, you play the land, and then it triggers. When the trigger resolves, you must return a land you control to its owner's hand. Since you control Basilica, that must be your choice.
So, yes, you can play it turn 1 but it is not advisable to do so at it will take up your land drop and leave you with no lands.
Well since you have to return a land, dropping it turn two leaves you with the same amount of Mana at third turn had you only dropped basic lands, is it only a benefit in the long run?
Well since you have to return a land, dropping it turn two leaves you with the same amount of Mana at third turn had you only dropped basic lands, is it only a benefit in the long run?
What I can say here is that--
You can play Orzhov Basilica even if you control no other lands or no untapped lands; Orzhov Basilica doesn't keep you from doing so in those circumstances.
When Orzhov Basilica's triggered ability resolves, you choose any "land you control" to return to its owner's hand, whether or not it's tapped -- and must choose Orzhov Basilica this way if the only land you control is Orzhov Basilica.
So, yes, you can play it turn 1 but it is not advisable to do so at it will take up your land drop and leave you with no lands.