Hi Kumar
According to the HOWTO for the update, http://scn.sap.com/docs/DOC-30980
Developer Center HOWTO - Update your SAP HANA, developer edition on AWSStep 0 - Prerequisites :
With Revision 56, a HANA Server pre-allocates 30GB when idle..... However, if you look on the OS level (e.g. with top, free or meminfo), you will see that the amount of physical memory consumed by a humming HANA server is indeed much lower.
So that should be normal. Congrats on your setup.
In the meantime I'm still working with studio 48, could be a problem with windows 8 or java installation, not sure, need to dig further.
Regards,
Idi