Consulting each of the answers here, it didn't match my situation. Just wanted to share my experience on this problem.
this XDA-Forum entry: How to use THE FAST! BlueStack as your alternate Android development emulator. In XDA-Forums I read about MEmu - Most Powerful Android Emulator for PC, Better Than Bluestacks. See also their site on Google+, this post from Cyril Mottier and this guide on reddit. In the comments of the post above you can find a reference to Genymotion which claims to be the 'fastest Android emulator for app testing and presentation'. Roman Nurik posts here that the Intel emulator with Android 4.3 is 'blazing fast'. See a tutorial for the Intel emulator here: HAXM Speeds Up the Android Emulator. Intel provides the ' Intel hardware accelerated execution manager', which is a VM based emulator for executing X86 images and which is also served by the Android SDK Manager.
Note : As per you786 comment if you have previously created emulator then you need to recreate it, otherwise this will not work.
You are able to turn on GPU emulation to get a faster emulator: The 'ARM EABI v7a System Image' must be available.
