You mentioned that your processor was : Intel Core i7-4700MQ
I've done a quick search for it to determine that Intel HAXM works on your processor. It does.
You probably fulfill the software requirements for HAXM (Windows 8.1 is Supported, and an up to date Android SDK Manager.
The hardware requirements are:
Intel® processor with support for Intel® VT-x, Intel® EM64T (Intel® 64), and Execute Disable (XD) Bit functionality
At least 1 GB of available RAM
(Taken from Installation Instructions)
Given the OS of your system and processor, here's a list of things that you could try in order.
- Check the Execute Disable Bit, VT-x, VT-d
I know this has been mentioned in other answers, but it be good to comb through all the settings again and make sure every virtualization option is properly turned on.
Within the BIOS setup utility, Execute Disable Bit may be identified by the terms "XD", "Execute Disable", "No Execute", or "Hardware DEP", depending on the BIOS used.
- Disable Hyper-V in Windows 8.1
This SO question mentions of a fix as other answers here have given, you need to disable Hyper-V due to known conflicts. You did show a screenshot of this being done, the fix does mention of a clean restart (not shutdown and turn on again due to the Fast Startup feature which is a hibernate of drivers).
Alternative: Boot Entry that explicitly disables Hyper-V
- Press Start.
- Type CMD.
- Right-Click, select Run As Administrator (must do this even if on Admin account)
- type this in
bcdedit /set hypervisorlaunchtype off
Instructions adapted from this blog post that mentions of how to create a separate boot entry. The blog post does touch on turning on Hyper-V after that too.
I personally had issues with HAXM because of the wrong BIOS settings. And perhaps some other virtualization software (I think VirtualBox, it was a while ago) was running. Good luck.
Edit: A user also mentioned here that completely uninstalling Avast helped. Not sure if that's the route you want to try.