For those using CygWinCygwin on VistaWindows Vista, Win7Windows 7, or above, the native git command can create "proper" symlinkssymbolic links that are recognized by Windows apps such as Android Studio. You just need to set the CYGWIN environment variable to include winsymlinks:native or winsymlinks:nativestrict as such:
export CYGWIN="$CYGWIN winsymlinks:native"
The downside to this (and a significant one at that) is that the CygWinCygwin shell has to be "Run as Administrator" in order for it to have the OS permissions required to create those kind of symlinkssymbolic links. Once they're created, though, no special permissions are required to use them. As long they aren't changed in the repository by another developer, git thereafter runs fine with normal user permissions.
Personally, I use this only for symlinkssymbolic links that are navigated by Windows appsapplications (i.e., non-CygWinCygwin) because of this added difficulty.
For more information on this option, see this SOStack Overflow question: How to make a symbolic link with Cygwin in Windows 7How to make a symbolic link with Cygwin in Windows 7