This work presents a unique time-efficient and reliable floorplan algorithm DOTFloor (Diffusion Oriented Time-improved Floorplanner), built around a SA (Simulated Annealing) engine and targeted to optimize the peak on-chip temperature along with the traditional design metrics like chip area and wire length. This paper also proposes a novel heat-diffusion based stochastic thermal model called the FATT (Fast Assumption Technique for Temperature) which provides a fast assumption of the degree of hotness during the optimization process. The incorporation of FATT in DOTFloor results in a significant improvement in the run time of the optimization process. Upon experimentation on MCNC (Microelectronics Center of North Carolina) benchmark circuits with the proposed floorplanner, a good optimization in area, wire length metric and peak on-chip temperature with a significant reduction in execution time have been achieved over the existing floorplanning tool, the HotFloorplan.