For android studio 2.2 version VM option is not available directly from project structure.
steps to make gradle sync successful:->
1)OPEN project
2)Click on gradle script
3)open gradle.properties
4)Change org.gradle.jvmargs=-Xmx1536m to org.gradle.jvmargs=-Xmx1024m
5)Save the work
6)Open File->Invalidate cache/Restart
And its done!!!
Enjoy Android!!!