diff --git a/.env b/.env
index bdbe4e47..df57523d 100644
--- a/.env
+++ b/.env
@@ -15,20 +15,27 @@ POSTGRES_USER=swirlds
 POSTGRES_PASSWORD=password
 
 #### Java Process Settings ####
-JAVA_HEAP_MIN=256m
-JAVA_HEAP_MAX=2g
-JAVA_OPTS="-XX:+UnlockExperimentalVMOptions -XX:+UseZGC -Xlog:gc*:gc.log"
+PLATFORM_JAVA_HEAP_MIN=256m
+PLATFORM_JAVA_HEAP_MAX=2g
+PLATFORM_JAVA_OPTS="-XX:+UnlockExperimentalVMOptions -XX:+UseZGC -Xlog:gc*:gc.log"
 
 #### Bind Mount Settings ####
 NETWORK_NODE_LOGS_ROOT_PATH=./network-logs/node
 APPLICATION_ROOT_PATH=./compose-network/network-node
+APPLICATION_CONFIG_PATH=./compose-network/network-node/data/config
 
 #### Network Node Memory Limits ####
 NETWORK_NODE_MEM_LIMIT=8gb
 
 #### MirrorNode settings ####
 MIRROR_POSTGRES_IMAGE=postgres:13.5-alpine
+MIRROR_GRPC_MEM_LIMIT=512m
+MIRROR_IMPORTER_MEM_LIMIT=768m
+MIRROR_REST_MEM_LIMIT=512m
+MIRROR_WEB3_MEM_LIMIT=512m
+
 #### MINIO settings ####
 MINIO_ROOT_USER=minioadmin
 MINIO_ROOT_PASSWORD=minioadmin
 
+
diff --git a/README.md b/README.md
index da970d6d..7d9ce6b5 100644
--- a/README.md
+++ b/README.md
@@ -10,6 +10,22 @@
 1. `compose-network` folder has the static files needed for starting Local network.
 2. `network-logs` folder will be created at runtime and will have all the log files generated after starting local node.
 
+### Steps to change the memory limits and properties
+The following environment variables can be changed in the `.env` file for various memory limits 
+1. Platform
+   - PLATFORM_JAVA_HEAP_MIN
+   - PLATFORM_JAVA_HEAP_MAX
+2. Consensus node
+   - NETWORK_NODE_MEM_LIMIT
+3. Mirror node
+   - MIRROR_GRPC_MEM_LIMIT - memory limit for mirror node gRPC
+   - MIRROR_IMPORTER_MEM_LIMIT - memory limit for mirror node importer
+   - MIRROR_REST_MEM_LIMIT - memory limit for mirror node rest api 
+   - MIRROR_WEB3_MEM_LIMIT - memory limit for mirror node web3
+4. To change `application.properties`, `api-permission.properties` or `bootstrap.properties` properties, update the `APPLICATION_CONFIG_PATH` to the location of updated config folder in `.env` file
+
+**IMPORTANT :** Ensure to do `docker-compose down -v; git clean -xfd; git reset --hard` and then `docker-compose up -d` for the new changes to take any effect.
+
 ### NOTE
 1. Ensure to use Docker Compose version 1.29.2 on macOS, due to known bug in Docker Compose V2. 
 2. Ensure the `gRPC FUSE for file sharing` and `Use Docker Compose V2` settings are disabled in the docker settings.
diff --git a/docker-compose.yml b/docker-compose.yml
index c4da2d2f..99641a67 100755
--- a/docker-compose.yml
+++ b/docker-compose.yml
@@ -42,9 +42,9 @@ services:
     mem_limit: "${NETWORK_NODE_MEM_LIMIT}"
     memswap_limit: "${NETWORK_NODE_MEM_LIMIT}"
     environment:
-      JAVA_HEAP_MIN: "${JAVA_HEAP_MIN}"
-      JAVA_HEAP_MAX: "${JAVA_HEAP_MAX}"
-      JAVA_OPTS: "${JAVA_OPTS}"
+      JAVA_HEAP_MIN: "${PLATFORM_JAVA_HEAP_MIN}"
+      JAVA_HEAP_MAX: "${PLATFORM_JAVA_HEAP_MAX}"
+      JAVA_OPTS: "${PLATFORM_JAVA_OPTS}"
       POSTGRES_DB: "${POSTGRES_DB}"
       POSTGRES_HOST: "network-node-postgres"
       POSTGRES_PORT: "5432"
@@ -66,7 +66,7 @@ services:
     volumes:
       - "${NETWORK_NODE_LOGS_ROOT_PATH}/accountBalances:/opt/hgcapp/accountBalances"
       - "${NETWORK_NODE_LOGS_ROOT_PATH}/recordStreams:/opt/hgcapp/recordStreams"
-      - "${APPLICATION_ROOT_PATH}/data/config:/opt/hgcapp/services-hedera/HapiApp2.0/data/config"
+      - "${APPLICATION_CONFIG_PATH}:/opt/hgcapp/services-hedera/HapiApp2.0/data/config"
       - "${NETWORK_NODE_LOGS_ROOT_PATH}/logs:/opt/hgcapp/services-hedera/HapiApp2.0/output"
       - "${APPLICATION_ROOT_PATH}/data/keys:/opt/hgcapp/services-hedera/HapiApp2.0/data/keys"
       - "${APPLICATION_ROOT_PATH}/data/onboard:/opt/hgcapp/services-hedera/HapiApp2.0/data/onboard"
@@ -202,8 +202,8 @@ services:
     container_name: mirror-node-grpc
     restart: unless-stopped
     mem_swappiness: 0
-    mem_limit: 512m
-    memswap_limit: 512m
+    mem_limit: "${MIRROR_GRPC_MEM_LIMIT}"
+    memswap_limit: "${MIRROR_GRPC_MEM_LIMIT}"
     depends_on:
       network-node:
         condition: service_started
@@ -224,8 +224,8 @@ services:
     container_name: mirror-node-importer
     restart: unless-stopped
     mem_swappiness: 0
-    mem_limit: 768m
-    memswap_limit: 768m
+    mem_limit: "${MIRROR_IMPORTER_MEM_LIMIT}"
+    memswap_limit: "${MIRROR_IMPORTER_MEM_LIMIT}"
     depends_on:
       minio:
         condition: service_started
@@ -245,8 +245,8 @@ services:
     image: gcr.io/mirrornode/hedera-mirror-rest:0.49.0
     container_name: mirror-node-rest
     mem_swappiness: 0
-    mem_limit: 512m
-    memswap_limit: 512m
+    mem_limit: "${MIRROR_REST_MEM_LIMIT}"
+    memswap_limit: "${MIRROR_REST_MEM_LIMIT}"
     depends_on:
       importer:
         condition: service_started
@@ -265,8 +265,8 @@ services:
     image: gcr.io/mirrornode/hedera-mirror-web3:0.49.0
     container_name: mirror-node-web3
     mem_swappiness: 0
-    mem_limit: 512m
-    memswap_limit: 512m
+    mem_limit: "${MIRROR_WEB3_MEM_LIMIT}"
+    memswap_limit: "${MIRROR_WEB3_MEM_LIMIT}"
     depends_on:
       importer:
         condition: service_started