Not at all, Hemaji is looking gracious with a height of 5'-6" , greater than any normal indian woman. And her husband Dharmendra having 5'-8" height.

No doubt hemaji looks absolutely gracious but then hemaji appears to look a little shorter than vidya balan who is only abt 5' 4" . she also in recent times looks really short in front of most other actress like genelia, raveena tandon , kareena kapoor etc etc

or may be she stopped wearing healed footwear like others!!

Exactly .. what you had anticipated is correct. Being a dignified lady hemaji respects to her age and normally she was wearing plain footwear as we can observe in all her publice appearances or reality shows etc. You may look in bollywoodmantra website to see her pictures to get clarification.