Hi Krishna,
How many physical memory in your HANA studio environment? it maybe has no enough physical memory to allocate new system.
Besides, you allocate how many physical memory to HANA stuidio?
You can check hdbstudio.ini file in your installed path. %installed path%\hdbstudio\hdbstudio.ini
You can update -Xmx value to high value.
Hope this can help you.
Regards,
Jerry