Could not create the Java Virtual Machine

I am trying to create and .apk file of my project but when I am trying to build the project in release mode, it is giving me these errors:

1. Could not create the Java Virtual Machine.
2. Error: A fatal exception has occurred. Program will exit.

I am using google maps in my project. One of my team member is able to generate it from Mac machine but I am using Windows 8.1 and it is giving me errors. I tried increasing the heap size in system variables but it didn't work for me. Can anyone please help me to find out some solution.